Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $166.38, for a total transaction of $4,575,450.00. Following the completion of the transaction, the chief technology officer owned 5,717,397 shares of the company’s stock, valued at $951,260,512.86. This trade represents a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chi Fung Cheng also recently made the following trade(s):

• On Friday, September 4th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The stock was sold at an average price of $170.00, for a total value of $644,300.00.
• On Friday, July 31st, Chi Cheng sold 27,473 shares of Credo Technology Group stock. The stock was sold at an average price of $209.53, for a total value of $5,756,417.69.
• On Monday, July 27th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $205.54, for a total value of $5,652,350.00.
• On Tuesday, July 21st, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $222.34, for a total transaction of $6,114,350.00.
• On Wednesday, July 8th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The stock was sold at an average price of $258.71, for a total transaction of $980,510.90.
• On Tuesday, July 7th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $243.06, for a total value of $6,684,150.00.
• On Tuesday, June 30th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $269.84, for a total value of $7,420,600.00.
• On Tuesday, June 23rd, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $270.94, for a total transaction of $7,450,850.00.

Credo Technology Group Price Performance

Credo Technology Group stock traded up $11.38 during midday trading on Monday, hitting $187.27. The company’s stock had a trading volume of 11,072,126 shares, compared to its average volume of 7,489,936. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67. The company has a 50-day moving average price of $211.91 and a two-hundred day moving average price of $192.43. The company has a market cap of $35.20 billion, a price-to-earnings ratio of 66.64, a PEG ratio of 0.70 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The business had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. During the same quarter last year, the firm earned $0.52 EPS. The company’s revenue was up 114.7% on a year-over-year basis. Sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

Credo Technology Group News Roundup

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo introduced its 1.6T ZeroFlap optics, expanding its high-speed connectivity portfolio as management targets more than $600 million in optical revenue during fiscal 2027. The product launch supports the company’s strategy of benefiting from rising data-center bandwidth requirements. Why Credo’s New 1.6T Optics Matter to Its $600 Million Optical Push
• Positive Sentiment: Analysts and fund commentary continue to highlight Credo’s AI-driven growth. The company has reported triple-digit year-over-year revenue growth, while fiscal 2027 revenue is expected to increase by more than 85% as optical products expand. AI build-out Strengthens Credo Technology Group Holding Ltd
• Positive Sentiment: Mizuho lowered its price target to $245 from $290 but retained an “outperform” rating, indicating that the brokerage still sees meaningful upside after the recent decline. Mizuho Cuts Credo Technology Group Price Target
• Neutral Sentiment: Recent coverage notes that Credo’s strong earnings performance—including revenue growth of roughly 115%—has not prevented the shares from falling substantially from their highs. Some investors view that weakness as an opportunity, but the debate remains dependent on continued execution. Credo Technology Crashed for 3 Months
• Negative Sentiment: Despite its growth outlook, Credo trades at a premium valuation. Analysts flag customer concentration and the risk that delays or weaker-than-expected adoption of optical products could make the aggressive growth targets difficult to achieve. CRDO Down 20.3% in a Month

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Credo Technology Group by 13.7% during the second quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock worth $593,603,000 after buying an additional 262,479 shares during the last quarter. Geode Capital Management LLC increased its position in Credo Technology Group by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after purchasing an additional 184,676 shares during the period. Corient Private Wealth LLC raised its stake in Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after buying an additional 3,597,318 shares during the last quarter. Atreides Management LP raised its stake in Credo Technology Group by 3.5% during the 2nd quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock valued at $307,109,000 after buying an additional 38,052 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Credo Technology Group by 11.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,021,020 shares of the company’s stock worth $290,805,000 after purchasing an additional 203,462 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRDO. Wall Street Zen lowered Credo Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Bank of America dropped their price target on Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, September 2nd. Susquehanna upped their price target on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Finally, TD Cowen lifted their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.89.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for the data infrastructure market. Its products are designed to help move data efficiently within and between networking, storage and computing systems, with applications in artificial intelligence, cloud computing, telecommunications and enterprise data centers.

The company’s portfolio includes serializer/deserializer (SerDes) integrated circuits, retimers, optical digital signal processors and active electrical cables.