Credo Technology Group (NASDAQ:CRDO) Director Pantas Sutardja Sells 1,540 Shares of Company Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Director Pantas Sutardja sold 1,540 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $212.22, for a total value of $326,818.80. Following the sale, the director directly owned 5,890,494 shares in the company, valued at approximately $1,250,080,636.68. The trade was a 0.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Credo Technology Group Trading Down 9.6%

Credo Technology Group stock opened at $179.23 on Thursday. The stock has a market cap of $33.69 billion, a PE ratio of 63.78, a P/E/G ratio of 0.79 and a beta of 3.25. The stock has a 50-day moving average price of $207.08 and a 200 day moving average price of $204.49. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 114.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities analysts predict that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

Key Credo Technology Group News

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

• Positive Sentiment: Credo’s latest outlook remains robust, with revenue expected at approximately $525 million to $535 million and fiscal 2027 revenue projected to increase by more than 85%. The company’s most recent quarter delivered 114.7% year-over-year revenue growth to $479 million, exceeding analyst expectations. Credo revenue outlook article
• Positive Sentiment: The company introduced its 1.6T ZeroFlap Active Light Cable for AI data centers. The product is designed to provide longer reach, lower power consumption and improved reliability, potentially expanding Credo’s addressable market as hyperscalers increase networking capacity. Credo ZeroFlap cable article
• Positive Sentiment: Credo is helping lead an Open Compute Project workstream to standardize short-reach micro-emitter optics. If approved and adopted, the effort could support future optical connectivity sales and help reduce the company’s reliance on a small number of major customers. Credo SRMO workstream article
• Neutral Sentiment: Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating, but several firms have recently reduced price targets. The stock’s premium valuation and dependence on two large customers leave limited room for execution setbacks. Credo valuation and customer concentration article
• Negative Sentiment: CRDO declined alongside AI infrastructure peers, including Astera Labs, in what appears to be sector-wide profit-taking rather than a newly reported deterioration in Credo’s operations. The decline highlights the stock’s elevated volatility and sensitivity to AI spending sentiment. Credo stock decline analysis
• Negative Sentiment: CTO Chi Cheng sold 31,290 shares, while CFO Daniel Fleming previously sold 7,580 shares; both transactions were conducted under pre-arranged Rule 10b5-1 plans. The sales were modest relative to their remaining holdings but may still weigh on sentiment.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new position in shares of Credo Technology Group in the 2nd quarter worth about $27,000. Burkett Financial Services LLC acquired a new position in shares of Credo Technology Group in the 3rd quarter valued at about $33,000. Reflection Asset Management acquired a new position in shares of Credo Technology Group in the 4th quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Credo Technology Group by 4,900.0% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 196 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Credo Technology Group by 292.9% during the 3rd quarter. Elevation Wealth Partners LLC now owns 275 shares of the company’s stock worth $54,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Susquehanna boosted their price objective on shares of 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 downgraded shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Mizuho decreased their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, September 21st. Bank of America decreased their target price on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, September 2nd. Finally, Rosenblatt Securities lifted their target price on shares of Credo Technology Group from $215.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.67.

About Credo Technology Group

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.