Insider Selling: Credo Technology Group (NASDAQ:CRDO) CFO Sells $1,613,857.80 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CFO Daniel Fleming sold 7,580 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $212.91, for a total value of $1,613,857.80. Following the completion of the sale, the chief financial officer directly owned 492,208 shares of the company’s stock, valued at approximately $104,796,005.28. The trade was a 1.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $178.50 on Friday. The stock’s 50 day moving average price is $206.04 and its 200 day moving average price is $205.07. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67. The company has a market capitalization of $33.55 billion, a P/E ratio of 63.52, a P/E/G ratio of 0.71 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly 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. The company had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. Credo Technology Group’s quarterly revenue was up 114.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current fiscal year.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its position in shares of 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 bought a new stake in shares of Credo Technology Group in the first quarter valued at about $102,434,000. The Manufacturers Life Insurance Company grew its position in Credo Technology Group by 192.1% during the first quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock worth $98,290,000 after buying an additional 688,596 shares in the last quarter. H&H International Investment LLC grew its position in Credo Technology Group by 431.6% during the first quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock worth $70,515,000 after buying an additional 609,900 shares in the last quarter. Finally, Scge Management L.P. acquired a new stake in Credo Technology Group during the fourth quarter worth about $82,017,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s AI infrastructure opportunity remains the central bullish argument. The company supplies high-speed electrical and optical connectivity used to address data-center bandwidth bottlenecks, and recent coverage highlights new optical cabling and memory-related technologies aimed at large AI workloads. Beyond the GPU: Credo Paves the Next AI Data Superhighway
• Positive Sentiment: Fundamentals remain strong: the latest quarter produced $479 million in revenue, up 114.7% year over year, and exceeded analyst expectations. Coverage points to revenue guidance of approximately $525 million to $535 million and fiscal 2027 growth of more than 85%. Credo Revenue Outlook
• Positive Sentiment: Several investor articles characterize the recent weakness as a potential buying opportunity, arguing that Credo’s growth could justify its premium valuation if its newer product lines scale successfully. Credo Became a Strong Buy on This Heavy Dip
• Neutral Sentiment: Rosenblatt Securities reaffirmed a “neutral” rating but raised its price target to $235, implying substantial upside from recent trading levels. Analysts remain divided on whether CRDO offers better risk-adjusted value than peers such as Coherent, Arm and Astera Labs. CRDO vs. COHR
• Negative Sentiment: The stock has decreased amid profit-taking across AI infrastructure names. Its elevated valuation, high volatility and dependence on major customers make investors more sensitive to any sign that growth or new-product launches could disappoint.
• Negative Sentiment: Recent insider transactions add modest pressure to sentiment: the CTO, CFO and a director sold shares under pre-arranged Rule 10b5-1 plans. The sales were small relative to their remaining holdings, but multiple transactions may reinforce caution during the pullback.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased their price objective on Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Mizuho reduced their target price on Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, September 21st. Evercore set a $292.00 target price on Credo Technology Group in a research report on Wednesday, September 2nd. Rosenblatt Securities reiterated a “neutral” rating and set a $235.00 price target on shares of Credo Technology Group in a report on Thursday. Finally, TD Cowen lifted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

Credo Technology Group Company Profile

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.