William Joseph Brennan Sells 9,476 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CEO William Joseph Brennan sold 9,476 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the completion of the transaction, the chief executive officer directly owned 347,399 shares of the company’s stock, valued at approximately $48,656,703.94. The trade was a 2.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

William Joseph Brennan also recently made the following trade(s):

• On Tuesday, September 16th, William Joseph Brennan sold 50,000 shares of Credo Technology Group stock. The stock was sold at an average price of $164.11, for a total transaction of $8,205,500.00.
• On Tuesday, September 16th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The stock was sold at an average price of $164.11, for a total transaction of $2,956,605.76.
• On Friday, August 1st, William Joseph Brennan sold 150,000 shares of Credo Technology Group stock. The stock was sold at an average price of $106.87, for a total transaction of $16,030,500.00.
• On Friday, August 1st, William Joseph Brennan sold 46,444 shares of Credo Technology Group stock. The stock was sold at an average price of $106.87, for a total transaction of $4,963,470.28.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $138.83 on Friday. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $176.70. The firm has a market capitalization of $24.02 billion, a P/E ratio of 207.21 and a beta of 2.60. The company’s 50-day moving average is $136.63 and its 200 day moving average is $91.42.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share 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 last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Susquehanna raised their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research report on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a research report on Wednesday, October 1st. TD Cowen assumed coverage on shares of Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $128.55.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Realta Investment Advisors bought a new position in shares of Credo Technology Group during the second quarter valued at approximately $300,000. Janney Montgomery Scott LLC boosted its stake in shares of Credo Technology Group by 27.9% during the first quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock valued at $270,000 after purchasing an additional 1,467 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Credo Technology Group by 850.6% during the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock valued at $383,000 after purchasing an additional 3,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credo Technology Group in the first quarter valued at approximately $27,000. Finally, Teacher Retirement System of Texas boosted its stake in Credo Technology Group by 464.4% in the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock valued at $1,405,000 after acquiring an additional 28,788 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

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.