Credo Technology Group (NASDAQ:CRDO) Trading Down 1% After Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded down 1% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $167.50 and last traded at $174.01. 4,418,857 shares were traded during mid-day trading, a decline of 39% from the average session volume of 7,216,670 shares. The stock had previously closed at $175.77.

Specifically, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $179.33, for a total transaction of $4,931,575.00. Following the completion of the transaction, the chief technology officer owned 6,052,370 shares in the company, valued at $1,085,371,512.10. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $188.02, for a total value of $5,170,550.00. Following the completion of the sale, the chief technology officer directly owned 6,079,870 shares in the company, valued at $1,143,137,157.40. This trade represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of research reports. Stifel Nicolaus set a $200.00 price target on Credo Technology Group in a research note on Tuesday, March 3rd. Jefferies Financial Group assumed coverage on Credo Technology Group in a research note on Monday, April 13th. They issued a “buy” rating and a $175.00 price objective on the stock. The Goldman Sachs Group increased their target price on Credo Technology Group from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Barclays reissued an “overweight” rating and issued a $260.00 target price on shares of Credo Technology Group in a report on Thursday, January 15th. Finally, Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $207.81.

Key Credo Technology Group News

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

• Positive Sentiment: MarketBeat lists Credo as one of “5 Stocks to Buy in May” citing settled patent disputes, critical IP in Active Electric Cables (AECs) and strong analyst interest — a direct bullish narrative for Credo’s revenue prospects. Article Title
• Positive Sentiment: MarketBeat / other reports highlight Credo’s recent quarterly beat (strong revenue growth and high margins) and broad analyst “Buy” coverage with an average price target above current levels — fundamental support for the stock. SEC Filing
• Neutral Sentiment: Zacks includes CRDO on a momentum‑anomaly screen as broader market volatility lifts momentum plays — that signals continued short‑term trading interest but not a change to the company’s fundamentals. Article Title
• Neutral Sentiment: Macro AI capex stories (Zacks, 24/7 Wall St.) argue multi‑hundred‑billion to trillion‑dollar data‑center buildouts through 2026 will boost demand for connectivity, memory and transceivers — a positive structural tailwind for Credo but not an immediate earnings catalyst. Article Title Article Title
• Neutral Sentiment: Kalkine and market commentary note Credo’s recent rally drew index and retail attention — increased visibility can lengthen rallies but also raise volatility and faster rotation risk. Article Title
• Negative Sentiment: CTO Chi Fung Cheng has repeatedly sold large blocks of CRDO shares via a pre‑arranged Rule 10b5‑1 plan (multiple transactions in April), which investors often view as supply pressure even if the trades are preplanned. See the SEC filing for the details. SEC Filing
• Negative Sentiment: Valuation/mean‑reversion risk: coverage pieces (24/7 Wall St., 247WallSt) note CRDO has already rallied sharply (yearly gains in the hundreds of percent) and some models show limited upside near current prices — raises risk of consolidation/correction. Article Title

Credo Technology Group Price Performance

The firm has a market capitalization of $32.10 billion, a PE ratio of 96.67 and a beta of 2.72. The business has a 50-day simple moving average of $125.11 and a 200-day simple moving average of $139.25.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 201.5% compared to the same quarter last year. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in CRDO. Corient Private Wealth LLC boosted its stake in shares of Credo Technology Group by 239,024.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares during the period. Amundi increased its position in shares of Credo Technology Group by 28,478.2% during the fourth quarter. Amundi now owns 1,559,796 shares of the company’s stock worth $224,439,000 after acquiring an additional 1,554,338 shares during the period. Janus Henderson Group PLC raised its position in Credo Technology Group by 841.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock valued at $228,979,000 after purchasing an additional 1,422,391 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Credo Technology Group by 161.5% in the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after acquiring an additional 1,406,752 shares in the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in shares of Credo Technology Group in the 3rd quarter valued at about $183,553,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.