Credo Technology Group (NASDAQ:CRDO) CFO Sells $249,567.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CFO Daniel Fleming sold 2,460 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $101.45, for a total transaction of $249,567.00. Following the sale, the chief financial officer owned 443,718 shares in the company, valued at $45,015,191.10. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Credo Technology Group Stock Up 3.2%

NASDAQ CRDO opened at $110.21 on Thursday. Credo Technology Group Holding Ltd. has a 12-month low of $33.04 and a 12-month high of $213.80. The company has a market capitalization of $20.33 billion, a PE ratio of 61.23 and a beta of 2.72. The firm’s 50 day moving average is $111.85 and its 200-day moving average is $137.56.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The company had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue was up 201.5% compared to the same quarter last year. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Hyperscaler expansion and continued AEC (short?reach copper) adoption are driving strong AEC revenue growth and support higher near?term demand from AI data centers. Credo Technology Expands Hyperscaler Reach: Concern or Strength?
• Positive Sentiment: Major analyst support: >90% of analysts rate CRDO a Buy and the consensus price target (~$200) implies substantial upside versus current levels — that buy?side coverage is supporting investor demand. Analysts See 100% Upside in Credo Technology (CRDO)
• Positive Sentiment: Legal overhang cleared — Credo settled disputes with TE Connectivity and Molex via confidential license/settlement agreements, and related lawsuits will be dismissed, removing litigation uncertainty that had weighed on valuation. Credo Settles Lawsuits With TE And Molex As Valuation Debate Remains
• Neutral Sentiment: Comparative coverage and watchlist mentions (MarketBeat/Bridget’s Buys) highlight CRDO as a volatile, high?growth data?center name — useful for context but less likely to move price intra?day. Bridget’s Buys: The Bottom 5 Stocks and What to Do Next
• Negative Sentiment: Insider selling: multiple Form 4 filings (including the CTO) show clustered sales in early April under 10b5?1 plans — large dollar amounts though small percentage ownership reductions; this cluster can weigh on near?term sentiment. CTO Insider Sales
• Negative Sentiment: Customer concentration risk: while hyperscaler deals lift revenue, heavy reliance on a small number of large customers raises execution and pricing risk if spending patterns shift. Credo Technology Expands Hyperscaler Reach: Concern or Strength?

Hedge Funds Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System boosted its position in Credo Technology Group by 17.2% during the second quarter. California Public Employees Retirement System now owns 257,567 shares of the company’s stock worth $23,848,000 after purchasing an additional 37,772 shares during the period. Optimize Financial Inc bought a new position in Credo Technology Group during the third quarter worth $1,431,000. Estate Counselors LLC bought a new position in Credo Technology Group during the third quarter worth $2,548,000. Global Trust Asset Management LLC bought a new position in Credo Technology Group during the third quarter worth $2,167,000. Finally, New York State Common Retirement Fund boosted its position in Credo Technology Group by 106.5% during the third quarter. New York State Common Retirement Fund now owns 146,134 shares of the company’s stock worth $21,279,000 after purchasing an additional 75,369 shares during the period. 80.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRDO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a report on Friday, March 27th. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Craig Hallum reissued a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Stifel Nicolaus set a $200.00 price objective on Credo Technology Group in a report on Tuesday, March 3rd. Finally, Barclays reissued an “overweight” rating and issued a $260.00 target price on shares of Credo Technology Group in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $206.33.

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.