Credo Technology Group (NASDAQ:CRDO) CTO Sells $6,114,350.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $222.34, for a total value of $6,114,350.00. Following the transaction, the chief technology officer owned 5,827,370 shares of the company’s stock, valued at $1,295,657,445.80. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, July 27th, Chi Fung 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.
• 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 transaction of $980,510.90.
• On Tuesday, July 7th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $243.06, for a total transaction of $6,684,150.00.
• On Tuesday, June 30th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was 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 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 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 Stock Up 13.3%

Shares of NASDAQ CRDO opened at $201.08 on Friday. The firm has a market cap of $37.50 billion, a P/E ratio of 81.08, a PEG ratio of 0.81 and a beta of 3.20. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67. The company has a 50 day moving average of $236.83 and a 200 day 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 analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same quarter last year, the company earned $0.20 EPS. The company’s quarterly revenue was up 157.0% compared to the same quarter last year. As a group, equities analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Key Credo Technology Group News

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.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC boosted their target price on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Mizuho lifted their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Evercore started coverage on shares of Credo Technology Group in a report on Monday, June 22nd. They set an “outperform” rating and a $325.00 price objective for the company. Bank of America increased their price objective on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, TD Cowen lifted their target price on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $266.17.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC grew its position in Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after buying an additional 106 shares during the period. Reflection Asset Management purchased a new position in shares of Credo Technology Group during the 4th quarter worth $25,000. Acumen Wealth Advisors LLC purchased a new position in shares of Credo Technology Group during the 4th quarter worth $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group during the 4th quarter valued at $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Credo Technology Group during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

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.