Insider Selling: Credo Technology Group (NASDAQ:CRDO) CTO Sells $8,041,550.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, September 8th. The stock was sold at an average price of $146.21, for a total value of $8,041,550.00. Following the sale, the chief technology officer owned 7,053,961 shares in the company, valued at $1,031,359,637.81. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, August 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $107.12, for a total value of $5,891,600.00.
• On Monday, July 28th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $105.80, for a total value of $5,819,000.00.
• On Monday, July 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $96.54, for a total value of $5,309,700.00.
• On Monday, July 14th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $98.53, for a total value of $5,419,150.00.
• On Monday, July 7th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $91.94, for a total value of $5,056,700.00.
• On Monday, June 30th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $92.65, for a total value of $5,095,750.00.
• On Monday, June 23rd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $84.37, for a total value of $4,640,350.00.
• On Monday, June 16th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $78.77, for a total value of $4,332,350.00.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $161.99 on Friday. The business has a fifty day simple moving average of $115.91 and a two-hundred day simple moving average of $77.00. Credo Technology Group Holding Ltd. has a 1 year low of $26.96 and a 1 year high of $168.42. The company has a market capitalization of $28.02 billion, a P/E ratio of 241.78 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same period in the prior year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in Credo Technology Group by 3.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company’s stock worth $341,000 after buying an additional 126 shares in the last quarter. Blue Trust Inc. grew its position in Credo Technology Group by 3.9% during the second quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock worth $380,000 after buying an additional 154 shares in the last quarter. Signaturefd LLC grew its position in Credo Technology Group by 32.4% during the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after buying an additional 172 shares in the last quarter. Main Management ETF Advisors LLC grew its position in Credo Technology Group by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company’s stock worth $1,086,000 after buying an additional 192 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Credo Technology Group by 21.5% during the first quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock worth $56,000 after buying an additional 245 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of recent research reports. Mizuho raised their target price on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. TD Cowen raised their target price on Credo Technology Group from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Barclays lifted their price target on Credo Technology Group from $85.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Stifel Nicolaus set a $155.00 price target on Credo Technology Group in a research report on Thursday, September 4th. Finally, Roth Capital lifted their price target on Credo Technology Group from $95.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $126.27.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.