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

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $205.54, for a total value of $5,652,350.00. Following the completion of the transaction, the chief technology officer directly owned 5,799,870 shares in the company, valued at approximately $1,192,105,279.80. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal 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, July 21st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $222.34, for a total value of $6,114,350.00.
• On Wednesday, July 8th, Chi Fung Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $258.71, for a total value of $980,510.90.
• On Tuesday, July 7th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $243.06, for a total value of $6,684,150.00.
• On Tuesday, June 30th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $269.84, for a total transaction of $7,420,600.00.
• On Tuesday, June 23rd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were 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 shares were 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.

Credo Technology Group Trading Up 13.3%

CRDO stock opened at $201.08 on Friday. The firm has a market cap of $37.50 billion, a PE ratio of 81.08, a PEG ratio of 0.81 and a beta of 3.20. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67. The company has a fifty day simple moving average of $236.83 and a 200 day simple moving average of $171.59.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRDO. TD Cowen raised their price objective on Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Jefferies Financial Group lifted their price target on shares of Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Stifel Nicolaus boosted their price objective on shares of Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Mizuho upped their price objective on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $266.17.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Zacks named CRDO a Rank #1 (Strong Buy) growth stock on July 30, reinforcing favorable analyst sentiment and potentially attracting growth-oriented investors. Best Growth Stocks to Buy for July 30th
• Positive Sentiment: Credo’s latest quarterly results remain a fundamental tailwind: revenue rose 157% year over year to $437 million, while earnings of $1.16 per share exceeded the $1.02 consensus estimate. Analysts currently maintain a consensus “Buy” rating with an average price target of $266.17.
• Positive Sentiment: A Seeking Alpha analysis said the recent CRDO sell-off may be overdone, citing the company’s exposure to artificial-intelligence infrastructure and long-term data-center connectivity growth. Credo Stock Sell-Off Looks Overblown
• Neutral Sentiment: CTO Chi Fung Cheng sold 27,500 shares for approximately $5.65 million at an average price of $205.54. The transaction was executed under a pre-arranged Rule 10b5-1 plan and reduced his holdings by only 0.47%; he still owns roughly 5.8 million shares. SEC insider transaction filing
• Negative Sentiment: The latest sale follows a series of scheduled Cheng transactions, including another 27,500-share sale on July 21 for about $6.11 million and additional sales in June and July. Repeated insider selling is weighing on sentiment after CRDO’s substantial prior rally, even though the sales appear routine.
• Negative Sentiment: Technical pressure is also evident: the stock remains below its 50-day moving average, while its elevated valuation and high beta leave it vulnerable to profit-taking across AI and semiconductor shares.

Hedge Funds Weigh In On Credo Technology Group

Large investors have recently made changes to their positions in the business. Crewe Advisors LLC boosted its stake in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after purchasing an additional 106 shares during the period. Reflection Asset Management acquired a new position in shares of Credo Technology Group during the fourth quarter worth approximately $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group during the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group in the fourth quarter valued at approximately $32,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Credo Technology Group in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.