Insider Selling: Credo Technology Group (NASDAQ:CRDO) CTO Sells $7,420,600.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $269.84, for a total transaction of $7,420,600.00. Following the completion of the sale, the chief technology officer owned 5,909,870 shares of the company’s stock, valued at $1,594,719,320.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 23rd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $270.94, for a total transaction of $7,450,850.00.
• 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 value 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.

Credo Technology Group Stock Performance

CRDO opened at $241.91 on Friday. Credo Technology Group Holding Ltd. has a 52-week low of $86.49 and a 52-week high of $308.67. The firm has a market cap of $45.11 billion, a P/E ratio of 97.54, a price-to-earnings-growth ratio of 1.11 and a beta of 3.20. The business’s fifty day moving average is $220.92 and its 200-day moving average is $160.44.

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

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo’s Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Hedge Funds Weigh In On Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Credo Technology Group by 8.0% in the second quarter. Versant Capital Management Inc now owns 755 shares of the company’s stock valued at $205,000 after buying an additional 56 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Credo Technology Group by 16.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock worth $80,000 after buying an additional 77 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Credo Technology Group by 1.7% during the first quarter. QRG Capital Management Inc. now owns 5,402 shares of the company’s stock worth $507,000 after buying an additional 91 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Credo Technology Group by 1.6% in the 1st quarter. Bank of Nova Scotia now owns 6,026 shares of the company’s stock valued at $566,000 after acquiring an additional 92 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of Credo Technology Group by 2.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company’s stock valued at $741,000 after acquiring an additional 100 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on CRDO shares. Bank of America increased their price target on shares of Credo Technology Group from $252.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group upped their target price on Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Rothschild & Co Redburn began coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a “buy” rating and a $206.00 price target on the stock. Finally, Susquehanna boosted their price target on Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target 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.