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

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $270.94, for a total transaction of $7,450,850.00. Following the sale, the chief technology officer owned 5,937,370 shares in the company, valued at $1,608,671,027.80. This represents a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, June 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $246.69, for a total transaction of $6,783,975.00.
• On Thursday, June 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $259.53, for a total transaction of $7,137,075.00.
• On Friday, May 1st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $178.99, for a total transaction of $4,922,225.00.
• On Monday, April 27th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $179.33, for a total transaction of $4,931,575.00.
• On Wednesday, April 22nd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $188.02, for a total value of $5,170,550.00.
• On Thursday, April 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $157.58, for a total value of $4,333,450.00.
• On Friday, April 10th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $118.25, for a total value of $3,251,875.00.
• On Monday, April 6th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $103.19, for a total value of $2,837,725.00.
• On Sunday, April 5th, Chi Fung Cheng sold 2,434 shares of Credo Technology Group stock. The shares were sold at an average price of $101.45, for a total value of $246,929.30.
• On Tuesday, March 31st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $91.28, for a total value of $2,510,200.00.

Credo Technology Group Price Performance

Credo Technology Group stock traded down $0.96 during mid-day trading on Thursday, hitting $268.03. The company’s stock had a trading volume of 8,149,840 shares, compared to its average volume of 7,584,012. Credo Technology Group Holding Ltd. has a 52-week low of $84.25 and a 52-week high of $308.67. The company has a market cap of $49.98 billion, a PE ratio of 108.08, a price-to-earnings-growth ratio of 1.43 and a beta of 3.22. The firm’s 50 day moving average is $209.46 and its 200 day moving average is $156.04.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. As a group, analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Institutional Investors Weigh In On Credo Technology Group

Large investors have recently bought and sold shares of the business. Crewe Advisors LLC lifted its position in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after buying an additional 106 shares during the last quarter. Reflection Asset Management acquired a new position in shares of Credo Technology Group during the 4th quarter valued at about $25,000. Acumen Wealth Advisors LLC bought a new position in shares of Credo Technology Group in the 4th quarter valued at approximately $25,000. Flagship Harbor Advisors LLC bought a new position in shares of Credo Technology Group in the 4th quarter valued at approximately $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Credo Technology Group in the 4th quarter worth approximately $36,000. 80.46% of the stock is currently owned by institutional investors.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Evercore ISI initiated coverage on Credo Technology Group with an Outperform rating and a $325 price target, arguing that the company is positioned to benefit from expanding demand for optical AI connectivity. Credo Technology (CRDO) Starts With Outperform Rating as Optical AI Connectivity Opportunity Expands
• Positive Sentiment: Zacks added CRDO to its Rank #1 (Strong Buy) growth stock list, reinforcing the market’s view that Credo remains a high-momentum AI/data-center name. Best Growth Stocks to Buy for June 25th
• Positive Sentiment: A new article highlighted Credo’s 1.6T connectivity ramp and its role in AI data-center growth, pointing to the company’s strong recent revenue acceleration and expanding demand for its products. How Credo Technology Group’s (CRDO) 1.6T Connectivity Ramp Is Feeding Its AI Data-Center Growth
• Positive Sentiment: Another commentary piece argued that Credo’s AI connectivity technology is gaining traction and suggested the stock could keep following that business momentum higher. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Neutral Sentiment: Separate fund-commentary pieces noted Credo as a durable growth name, but they were largely retrospective portfolio discussions rather than new company-specific catalysts. The Brown Capital Management Small Company Fund Picked Credo Technology (CRDO) Amid Multiple Durable Growth Drivers
• Neutral Sentiment: A separate note said Credo was “not Micron” and carried a sell rating, but this appears to be a contrarian analyst view rather than the dominant market narrative. Credo Is Not Micron; Sell (Rating Downgrade)
• Negative Sentiment: One investor-letter summary flagged replacement-risk concerns around Credo’s business, which could weigh on sentiment if investors focus on competitive pressures in its product lines. Credo Technology (CRDO) Slid Amid Replacement Risk Concerns

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRDO shares. Needham & Company LLC lifted their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Mizuho upped their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Evercore assumed coverage on Credo Technology Group in a research report on Monday. They set an “outperform” rating and a $325.00 price objective for the company. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. boosted their target price on Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $263.11.

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.