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

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $103.19, for a total value of $2,837,725.00. Following the sale, the chief technology officer owned 6,162,370 shares of the company’s stock, valued at approximately $635,894,960.30. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chi Fung Cheng also recently made the following trade(s):

• On Sunday, April 5th, Chi Fung Cheng sold 2,434 shares of Credo Technology Group stock. The shares were sold at an average price of $101.45, for a total value of $246,929.30.
• On Tuesday, March 31st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $91.28, for a total value of $2,510,200.00.
• On Tuesday, March 24th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $100.67, for a total value of $2,768,425.00.
• On Tuesday, March 17th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $107.90, for a total value of $2,967,250.00.
• On Wednesday, March 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $117.60, for a total value of $3,234,000.00.
• On Thursday, January 29th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $127.37, for a total value of $3,502,675.00.
• On Thursday, January 22nd, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The stock was sold at an average price of $136.33, for a total value of $4,089,900.00.
• On Thursday, January 15th, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The stock was sold at an average price of $155.47, for a total value of $4,664,100.00.
• On Thursday, January 8th, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The shares were sold at an average price of $139.93, for a total value of $4,197,900.00.

Credo Technology Group Trading Up 3.2%

NASDAQ CRDO opened at $110.21 on Thursday. The firm has a market capitalization of $20.33 billion, a P/E ratio of 61.23 and a beta of 2.72. The business has a fifty day simple moving average of $111.85 and a 200 day simple moving average of $137.56. Credo Technology Group Holding Ltd. has a 12 month low of $33.04 and a 12 month high of $213.80.

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

Trending Headlines about 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?

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. The Goldman Sachs Group set a $165.00 price objective on Credo Technology Group and gave the company a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a research note on Friday, March 27th. Stifel Nicolaus set a $200.00 price objective on Credo Technology Group in a research note on Tuesday, March 3rd. Finally, Roth Mkm reduced their price objective on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Credo Technology Group presently has a consensus rating of “Buy” and an average target price of $206.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Credo Technology Group by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock worth $2,386,449,000 after acquiring an additional 59,849 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Credo Technology Group by 18.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock worth $1,121,118,000 after acquiring an additional 1,190,522 shares during the period. State Street Corp grew its stake in shares of Credo Technology Group by 23.4% during the 4th quarter. State Street Corp now owns 4,486,320 shares of the company’s stock worth $645,537,000 after acquiring an additional 849,654 shares during the period. Geode Capital Management LLC grew its stake in shares of Credo Technology Group by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock worth $555,117,000 after acquiring an additional 184,676 shares during the period. Finally, Corient Private Wealth LLC grew its stake in shares of Credo Technology Group by 239,024.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after acquiring an additional 3,597,318 shares during the period. Institutional investors own 80.46% of the company’s stock.

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.