Credo Technology Group (NASDAQ:CRDO) Stock: Insider Chi Fung Cheng Sells 3,790 Shares

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 3,790 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $201.84, for a total value of $764,973.60. Following the transaction, the chief technology officer owned 130,318 shares of the company’s stock, valued at approximately $26,303,385.12. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Tuesday, October 13th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $192.99, for a total value of $5,307,225.00.
• On Tuesday, October 6th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $221.48, for a total transaction of $6,090,700.00.
• On Tuesday, September 29th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $193.93, for a total transaction of $5,333,075.00.
• On Wednesday, September 23rd, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $193.12, for a total transaction of $5,310,800.00.
• On Thursday, September 17th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $166.38, for a total transaction of $4,575,450.00.
• On Friday, September 4th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $170.00, for a total transaction of $644,300.00.
• On Friday, July 31st, Chi Cheng sold 27,473 shares of Credo Technology Group stock. The shares were sold at an average price of $209.53, for a total transaction of $5,756,417.69.
• On Monday, July 27th, Chi 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 Tuesday, July 21st, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $222.34, for a total transaction of $6,114,350.00.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $178.50 on Friday. The firm’s 50-day moving average is $206.04 and its 200-day moving average is $205.07. Credo Technology Group Holding Ltd. has a 52-week low of $86.49 and a 52-week high of $308.67. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 63.52, a PEG ratio of 0.71 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The business had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 114.7% on a year-over-year basis. Equities analysts predict that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Capital Management LLC bought a new position in Credo Technology Group during the second quarter worth about $27,000. Burkett Financial Services LLC acquired a new stake in Credo Technology Group during the third quarter valued at approximately $33,000. Reflection Asset Management acquired a new stake in Credo Technology Group during the fourth quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. grew 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 during the period. Finally, Elevation Wealth Partners LLC grew its stake in shares of Credo Technology Group by 292.9% in the 3rd quarter. Elevation Wealth Partners LLC now owns 275 shares of the company’s stock valued at $54,000 after purchasing an additional 205 shares during the period. Institutional investors own 80.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CRDO. Zacks Research cut Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Bank of America lowered their price objective on 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. TD Cowen upped their target price on Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Evercore set a $292.00 target price on Credo Technology Group in a research report on Wednesday, September 2nd. Finally, Weiss Ratings downgraded shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. One investment 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $262.67.

More Credo Technology Group News

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

• Positive Sentiment: Credo’s AI infrastructure opportunity remains the central bullish argument. The company supplies high-speed electrical and optical connectivity used to address data-center bandwidth bottlenecks, and recent coverage highlights new optical cabling and memory-related technologies aimed at large AI workloads. Beyond the GPU: Credo Paves the Next AI Data Superhighway
• Positive Sentiment: Fundamentals remain strong: the latest quarter produced $479 million in revenue, up 114.7% year over year, and exceeded analyst expectations. Coverage points to revenue guidance of approximately $525 million to $535 million and fiscal 2027 growth of more than 85%. Credo Revenue Outlook
• Positive Sentiment: Several investor articles characterize the recent weakness as a potential buying opportunity, arguing that Credo’s growth could justify its premium valuation if its newer product lines scale successfully. Credo Became a Strong Buy on This Heavy Dip
• Neutral Sentiment: Rosenblatt Securities reaffirmed a “neutral” rating but raised its price target to $235, implying substantial upside from recent trading levels. Analysts remain divided on whether CRDO offers better risk-adjusted value than peers such as Coherent, Arm and Astera Labs. CRDO vs. COHR
• Negative Sentiment: The stock has decreased amid profit-taking across AI infrastructure names. Its elevated valuation, high volatility and dependence on major customers make investors more sensitive to any sign that growth or new-product launches could disappoint.
• Negative Sentiment: Recent insider transactions add modest pressure to sentiment: the CTO, CFO and a director sold shares under pre-arranged Rule 10b5-1 plans. The sales were small relative to their remaining holdings, but multiple transactions may reinforce caution during the pullback.

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.