Credo Technology Group (NASDAQ:CRDO) Director Sylvia Acevedo Sells 2,208 Shares

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Director Sylvia Acevedo sold 2,208 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the sale, the director directly owned 16,337 shares of the company’s stock, valued at $3,447,107. This represents a 11.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Credo Technology Group Stock Up 5.4%

Shares of CRDO stock opened at $234.32 on Wednesday. The company has a market cap of $43.22 billion, a price-to-earnings ratio of 94.48, a price-to-earnings-growth ratio of 1.44 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 52 week low of $66.75 and a 52 week high of $252.70. The firm has a 50 day moving average of $174.95 and a 200-day moving average of $148.44.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.02 by $0.14. The company had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The company’s quarterly revenue was up 157.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. Analysts anticipate that Credo Technology Group Holding Ltd. will post 3.93 earnings per share for the current year.

Institutional Trading of Credo Technology Group

Several hedge funds have recently bought and sold shares of CRDO. NewEdge Advisors LLC grew its position in Credo Technology Group by 128.4% in the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after purchasing an additional 3,972 shares during the period. Goldman Sachs Group Inc. grew its position in Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock valued at $61,235,000 after purchasing an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Credo Technology Group by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after purchasing an additional 7,107 shares during the period. CW Advisors LLC acquired a new stake in Credo Technology Group in the 2nd quarter valued at $288,000. Finally, EverSource Wealth Advisors LLC grew its position in Credo Technology Group by 198.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $46,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Traders bought more call options than usual, signaling bullish expectations for further upside in Credo Technology Group.
• Positive Sentiment: Recent commentary noted that CRDO has surged about 78% in three months, reflecting strong AI-driven demand and continued investor enthusiasm for the stock. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Another analysis said Credo remains one of the standout semiconductor names, outperforming the broader industry, sector, and the S&P 500 over the last quarter. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Neutral Sentiment: A market wrap-up article mentioned Credo as one of the stocks advancing during Tuesday’s session, but the main driver was broader market volatility rather than company-specific news. Stock Market Today: Nasdaq Ends Off Steeper Loss, Dow Rises After Downturn; Credo Technology Advances
• Neutral Sentiment: Insider selling by the CEO and a director may be weighing on sentiment somewhat, but these sales were relatively routine and do not necessarily signal a change in fundamentals.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Susquehanna raised their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research report on Tuesday, June 2nd. Rothschild & Co Redburn assumed coverage on shares of Credo Technology Group in a research report on Friday, May 1st. They set a “buy” rating and a $206.00 price objective for the company. Mizuho raised their price objective on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Needham & Company LLC raised their price objective on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, Bank of America raised their price objective on shares of Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Credo Technology Group has an average rating of “Moderate Buy” and an average target price of $248.41.

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.