Insider Selling: Credo Technology Group (NASDAQ:CRDO) CTO Sells $5,333,075.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $193.93, for a total value of $5,333,075.00. Following the transaction, the chief technology officer owned 5,662,397 shares of the company’s stock, valued at $1,098,108,650.21. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, September 23rd, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $193.12, for a total transaction of $5,310,800.00.
• On Thursday, September 17th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $166.38, for a total transaction of $4,575,450.00.
• On Friday, September 4th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $170.00, for a total transaction 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 transaction of $5,756,417.69.
• On Monday, July 27th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $205.54, for a total transaction of $5,652,350.00.
• On Tuesday, July 21st, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were 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 value 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.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO traded up $15.38 during mid-day trading on Thursday, hitting $210.17. The company had a trading volume of 9,361,458 shares, compared to its average volume of 7,518,248. The company has a market capitalization of $39.50 billion, a PE ratio of 74.79, a price-to-earnings-growth ratio of 0.77 and a beta of 3.22. The business’s 50-day simple moving average is $207.63 and its 200 day simple moving average is $197.22. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.The firm had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. During the same period in the previous year, the firm posted $0.52 EPS. Credo Technology Group’s revenue for the quarter was up 114.7% on a year-over-year basis. On average, analysts expect that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Reflection Asset Management purchased a new position in shares of Credo Technology Group during the fourth quarter worth about $25,000. Orion Capital Management LLC purchased a new stake in Credo Technology Group during the 2nd quarter valued at approximately $27,000. AlphaCentric Advisors LLC purchased a new stake in Credo Technology Group during the 1st quarter valued at approximately $33,000. Western Wealth Management LLC acquired a new stake in Credo Technology Group during the 1st quarter worth approximately $38,000. Finally, MCF Advisors LLC lifted its position in Credo Technology Group by 309.9% during the 4th quarter. MCF Advisors LLC now owns 373 shares of the company’s stock worth $54,000 after acquiring an additional 282 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRDO shares. Bank of America cut their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, September 2nd. Rosenblatt Securities lifted their price target on shares of Credo Technology Group from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Evercore set a $292.00 target price on shares of Credo Technology Group in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. lowered their price target on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Finally, Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Credo Technology Group currently has a consensus rating of “Moderate Buy” and an average target price of $264.89.

More Credo Technology Group News

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

• Positive Sentiment: Analysts and financial commentators highlight Credo’s triple-digit revenue growth, strong hyperscaler relationships and role in connecting large AI computing clusters. The company is benefiting from AI spending shifting toward networking, cabling and optical connectivity rather than computing power alone. AI Spending Is Entering Its Next Phase
• Positive Sentiment: Recent coverage points to Credo’s expansion into optical products, including its 224G-based 1.6T optical transceiver, as a potential second growth engine alongside its existing connectivity business. This could strengthen the company’s position as AI infrastructure requirements become more demanding. Credo: Opportunity Is Knocking
• Positive Sentiment: Credo’s latest reported quarter showed revenue of $479 million, up 114.7% year over year, while EPS of $1.20 exceeded the $1.17 consensus estimate. Follow-up coverage says the stock has risen 17.9% since those results, with earnings estimates and business momentum remaining key catalysts. Credo Technology Group Up Since Last Earnings Report
• Positive Sentiment: Sell-side sentiment remains favorable: Credo carries a “Moderate Buy” consensus rating, with reported price targets as high as $300 and an average target of $264.89. Momentum-focused coverage also identifies CRDO as a strong growth and momentum stock. Credo Rated Moderate Buy
• Neutral Sentiment: Articles comparing Credo with Arm frame the investment case around explosive AI connectivity growth versus Arm’s more established smartphone and computing architecture business. The coverage is bullish but reflects opinion rather than a new company announcement. Arm vs. Credo Technology Group
• Negative Sentiment: Credo’s CEO sold 16,672 shares valued at approximately $2.5 million, while COO Yat Tung Lam sold 50,000 shares for about $10.3 million under a pre-arranged Rule 10b5-1 plan. The sales were small relative to the executives’ remaining holdings and appear scheduled, but insider selling can still weigh on sentiment. Credo Technology CEO Sells Shares

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.