Credo Technology Group (NASDAQ:CRDO) CFO Daniel Fleming Sells 7,580 Shares of Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CFO Daniel Fleming sold 7,580 shares of the company’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 transaction of $1,613,857.80. Following the completion of the sale, the chief financial officer owned 492,208 shares of the company’s stock, valued at approximately $104,796,005.28. This trade represents 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 Trading Down 1.3%

NASDAQ:CRDO traded down $2.53 during trading hours on Tuesday, hitting $198.31. 10,820,791 shares of the stock traded hands, compared to its average volume of 7,558,714. The firm has a 50 day moving average price of $208.78 and a 200 day moving average price of $203.24. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67. The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 70.57, a PEG ratio of 0.86 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last issued its 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. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The business had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. During the same quarter last year, the firm posted $0.52 earnings per share. Credo Technology Group’s revenue was up 114.7% compared to the same quarter last year. Research analysts predict that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

More Credo Technology Group News

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

• Positive Sentiment: Credo introduced a 1.6T ZeroFlap Active Light Cable, a row-scale, wide-parallel optical interconnect designed for AI data centers. The company says the product can reduce power consumption, improve reliability and extend reach, potentially supporting future revenue growth as AI clusters become larger and more bandwidth-intensive. Credo Unveils 1.6T ZeroFlap Active Light Cable
• Positive Sentiment: The company launched a Short-Reach Micro-Emitter Optics, or SRMO, standardization effort within the Open Compute Project. The workstream is targeting specifications for AI data-center scale-up and scale-out applications, giving Credo an opportunity to influence an emerging industry standard and create longer-term demand for its optical connectivity products. Credo Launches SRMO Standardization
• Positive Sentiment: Credo also described work using AMD programmable-logic-based AI accelerators to address memory-bandwidth constraints, reinforcing its positioning as a supplier of connectivity solutions for increasingly demanding AI infrastructure. Credo Breaks the Memory Wall
• Neutral Sentiment: Investor commentary remains bullish on Credo’s growth opportunity, noting that its expansion has outpaced Marvell and Astera Labs. However, the comparison also underscores that expectations are elevated before the next earnings report. Credo Technology’s Price Targets Reveal the Size of Its Opportunity
• Negative Sentiment: Credo trades at a demanding valuation, with a high earnings multiple and substantial prior gains reflected in the share price. That valuation leaves the stock vulnerable to profit-taking or a pullback when investors do not receive a fresh earnings or guidance catalyst, even as the company’s product announcements remain encouraging.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRDO. Susquehanna lifted their price objective on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. TD Cowen raised their price target on Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. reduced their price target on Credo Technology Group from $335.00 to $310.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Finally, Mizuho lowered their price target on Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating for the company in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

Hedge Funds Weigh In On Credo Technology Group

A number of institutional investors have recently made changes to their positions in the business. Ring Mountain Capital LLC boosted its stake in Credo Technology Group by 31.3% during the 3rd quarter. Ring Mountain Capital LLC now owns 1,271 shares of the company’s stock worth $248,000 after acquiring an additional 303 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake in Credo Technology Group by 33.7% in the third quarter. Steel Grove Capital Advisors LLC now owns 6,327 shares of the company’s stock valued at $1,232,000 after purchasing an additional 1,594 shares in the last quarter. Kieckhefer Group LLC increased its stake in Credo Technology Group by 74.1% in the third quarter. Kieckhefer Group LLC now owns 27,780 shares of the company’s stock valued at $5,411,000 after purchasing an additional 11,823 shares in the last quarter. Integrated Financial Solutions Inc. increased its stake in Credo Technology Group by 145.3% in the third quarter. Integrated Financial Solutions Inc. now owns 7,887 shares of the company’s stock valued at $1,536,000 after purchasing an additional 4,672 shares in the last quarter. Finally, Dupree Financial Group LLC acquired a new stake in Credo Technology Group in the third quarter worth $4,627,000. 80.46% of the stock is currently owned by institutional investors.

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.