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

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $172.62, for a total value of $4,747,050.00. Following the completion of the sale, the chief technology officer directly owned 5,579,897 shares in the company, valued at approximately $963,201,820.14. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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, October 13th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $192.99, for a total value of $5,307,225.00.
• On Monday, October 12th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $201.84, for a total value of $764,973.60.
• On Tuesday, October 6th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $221.48, for a total value of $6,090,700.00.
• On Tuesday, September 29th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $193.93, for a total value of $5,333,075.00.
• On Wednesday, September 23rd, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $193.12, for a total value of $5,310,800.00.
• On Thursday, September 17th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $166.38, for a total value of $4,575,450.00.
• On Friday, September 4th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $170.00, for a total value of $644,300.00.
• On Friday, July 31st, Chi Cheng sold 27,473 shares of Credo Technology Group stock. The stock was sold at an average price of $209.53, for a total transaction of $5,756,417.69.
• On Monday, July 27th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $205.54, for a total transaction of $5,652,350.00.

Credo Technology Group Trading Down 10.7%

Shares of CRDO stock opened at $162.77 on Friday. The firm has a market capitalization of $30.59 billion, a P/E ratio of 61.58, a price-to-earnings-growth ratio of 0.73 and a beta of 3.25. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67. The firm’s fifty day simple moving average is $197.79 and its 200 day simple moving average is $207.74.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $479.00 million during the quarter, compared to the consensus estimate of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The business’s revenue was up 114.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. Equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Yousif Capital Management LLC raised its position in Credo Technology Group by 6.8% in the third quarter. Yousif Capital Management LLC now owns 2,349 shares of the company’s stock worth $458,000 after purchasing an additional 149 shares in the last quarter. Demars Financial Group LLC bought a new position in Credo Technology Group during the third quarter worth about $431,000. Royal Fund Management LLC boosted its holdings in Credo Technology Group by 48.2% during the third quarter. Royal Fund Management LLC now owns 3,509 shares of the company’s stock valued at $684,000 after purchasing an additional 1,142 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Credo Technology Group during the third quarter valued at approximately $48,000. Finally, SBI Securities Co. Ltd. boosted its holdings in Credo Technology Group by 7.6% during the third quarter. SBI Securities Co. Ltd. now owns 13,248 shares of the company’s stock valued at $2,581,000 after purchasing an additional 940 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Rosenblatt Securities restated a “neutral” rating and set a $235.00 price target on shares of Credo Technology Group in a research note on Thursday, October 15th. Mizuho cut their price target on Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, September 21st. Weiss Ratings downgraded Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Stifel Nicolaus decreased their price objective on Credo Technology Group from $350.00 to $310.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, Susquehanna boosted 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. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average target price of $262.67.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo’s latest quarter delivered revenue growth of 114.7% year over year, with earnings and revenue exceeding analyst expectations. The company also raised its outlook, reinforcing expectations for continued demand for high-speed connectivity products used in AI data centers. Two Wall Street firms reportedly see significant upside following the recent selloff. Credo upside analysis
• Positive Sentiment: Credo is developing optical cables expected to use approximately 30% less power than comparable copper products. Although shipments are not expected until 2027, the technology could provide a second growth engine as data-center operators seek more power-efficient connectivity solutions. Credo optical cable opportunity
• Neutral Sentiment: Analysts remain broadly constructive, with a reported average price target of $262.67 and a “Moderate Buy” consensus. However, another valuation analysis suggested the stock may already be fairly priced after its multiyear rally, highlighting the risk that strong growth expectations are reflected in the shares. Credo valuation analysis
• Negative Sentiment: CEO William Brennan sold 16,666 shares for approximately $2.9 million, while CTO Chi Cheng sold 27,500 shares for approximately $4.7 million. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their value as discretionary bearish signals, but the insider selling may still pressure investor sentiment. Credo insider sale filing
• Negative Sentiment: CRDO trades at an elevated valuation, with a reported P/E ratio above 57, making the stock especially sensitive to changes in AI enthusiasm, interest rates and concerns about whether future growth can justify its premium price. Recent commentary also cautioned that it may be too early to buy the channel bottom or the dip. Credo channel and valuation analysis

About Credo Technology Group

Credo Technology Group Holding Ltd. is a fabless semiconductor and connectivity solutions company that develops high-speed data-infrastructure technologies. Its products are designed to help data centers and communications networks move large volumes of information with lower power consumption and improved signal integrity.

The company’s portfolio includes serializer/deserializer (SerDes) intellectual property, application-specific integrated circuits, active electrical cables, optical digital signal processors and related connectivity platforms.