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

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 27,500 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $172.62, for a total transaction of $4,747,050.00. Following the transaction, the chief technology officer owned 5,579,897 shares in the company, valued at approximately $963,201,820.14. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 13th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $192.99, for a total transaction of $5,307,225.00.
• On Monday, October 12th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $201.84, for a total transaction of $764,973.60.
• On Tuesday, October 6th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $221.48, for a total transaction of $6,090,700.00.
• On Tuesday, September 29th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $193.93, for a total value of $5,333,075.00.
• 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 value of $5,310,800.00.
• On Thursday, September 17th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $166.38, for a total value 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 value of $644,300.00.
• On Friday, July 31st, Chi Cheng sold 27,473 shares of Credo Technology Group stock. The shares were 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 stock was sold at an average price of $205.54, for a total value of $5,652,350.00.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO traded down $19.51 during trading on Thursday, hitting $162.77. 9,132,964 shares of the stock were exchanged, compared to its average volume of 7,591,728. 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 market capitalization of $30.59 billion, a price-to-earnings ratio of 57.93, a price-to-earnings-growth ratio of 0.68 and a beta of 3.25. The company’s fifty day simple moving average is $199.85 and its 200-day simple moving average is $207.31.

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

Analyst Ratings Changes

CRDO has been the subject of a number of recent research reports. 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. Evercore set a $292.00 target price on shares of Credo Technology Group in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. lowered their target price on shares of Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 2nd. Weiss Ratings cut shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $235.00 price objective on shares of Credo Technology Group in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $262.67.

More Credo Technology Group News

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

• Positive Sentiment: Credo’s triple-digit revenue growth, recent earnings beat and raised outlook continue to support the bullish case. Analysts cited in recent coverage believe the pullback has created significant upside, with the company benefiting from demand for high-speed connectivity products used in AI data centers. Credo Growth and Analyst Upside Article
• Positive Sentiment: Investor sentiment toward AI infrastructure has shown signs of recovery, helping drive a recent rebound in CRDO and other related technology stocks. Brown Advisory also highlighted Credo as a growth company benefiting from active stock selection opportunities amid market volatility. Credo AI Rebound Article
• Positive Sentiment: Credo’s planned optical cable, expected to ship in 2027, could provide a second growth engine. The product is designed to use about 30% less power than comparable copper cables, although the opportunity is not yet contributing revenue. Credo Optical Cable Article
• Neutral Sentiment: Valuation remains the key debate. With a high earnings multiple following a major multiyear rally, one analysis concluded the shares appear fairly priced based on currently achievable cash flows, while the consensus analyst target remains materially above recent levels. Credo Valuation Analysis
• Negative Sentiment: CEO William Brennan sold 16,666 shares worth approximately $2.9 million, reducing his direct stake by about 1.04%. The sale was made under a pre-arranged Rule 10b5-1 plan, limiting its bearish significance, but it may still weigh modestly on investor sentiment. Credo CEO SEC Filing

Institutional Investors Weigh In On Credo Technology Group

Several large investors have recently made changes to their positions in CRDO. Orion Capital Management LLC acquired a new stake in shares of Credo Technology Group during the 2nd quarter worth about $27,000. Burkett Financial Services LLC acquired a new position in Credo Technology Group in the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Credo Technology Group by 4,900.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 196 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in Credo Technology Group during the third quarter worth about $40,000. Finally, Root Financial Partners LLC bought a new stake in Credo Technology Group during the third quarter worth about $48,000. Institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd. is a fabless semiconductor and connectivity solutions company that develops high-speed data-infrastructure technologies. Its products are designed to help data centers and communications networks move large volumes of information with lower power consumption and improved signal integrity.

The company’s portfolio includes serializer/deserializer (SerDes) intellectual property, application-specific integrated circuits, active electrical cables, optical digital signal processors and related connectivity platforms.