Credo Technology Group (NASDAQ:CRDO) Shares Down 3.4% Following Insider Selling

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) dropped 3.4% during mid-day trading on Friday following insider selling activity. The stock traded as low as $101.67 and last traded at $103.40. Approximately 6,650,409 shares were traded during trading, a decline of 9% from the average daily volume of 7,333,906 shares. The stock had previously closed at $107.09.

Specifically, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $107.90, for a total value of $2,967,250.00. Following the completion of the sale, the chief technology officer directly owned 6,244,870 shares in the company, valued at $673,821,473. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

CRDO has been the topic of a number of research reports. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Wolfe Research set a $240.00 price target on shares of Credo Technology Group in a research note on Tuesday, December 2nd. Susquehanna reduced their price objective on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research note on Tuesday, March 3rd. New Street Research set a $240.00 target price on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, Stifel Nicolaus set a $200.00 price target on Credo Technology Group in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $206.33.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Analyst consensus remains bullish — CRDO carries an average “Buy” rating as multiple firms cite robust AI/data‑center demand and favorable forward multiples, supporting continued investor interest. Article
• Positive Sentiment: Price-target and rating upgrades: recent research notes (including a Seeking Alpha upgrade) point to sustained >200% YoY revenue growth, EPS acceleration and a strong net cash position — fundamental drivers that justify buy-side flows. Article
• Positive Sentiment: Product momentum: new 800G ZeroFlap transceivers and updated DSP families aimed at AI data‑center networking bolster Credo’s addressable market and revenue outlook. Product cadence supports the bull case for growth. Article
• Neutral Sentiment: Market and coverage context mixed — some outlets highlight conflicting analyst views and industry comparisons; useful for framing risk but not an immediate sell signal. Article
• Neutral Sentiment: Tactical flows and options interest are elevated — several pieces note heightened options and trade‑flow activity that can amplify short‑term moves but don’t change Credo’s fundamentals. Article
• Neutral Sentiment: Reported short interest data showed zero shares (likely a reporting glitch), implying limited publicly reported short exposure — reduces visible short‑squeeze risk but the figure is unreliable. (Reported 3/19)
• Negative Sentiment: Insider selling: CTO Chi Fung Cheng sold 27,500 shares at an average ~$107.90 (SEC filing). While the exec still holds a very large stake, repeated sizable sales can weigh on near‑term sentiment. SEC Filing

Credo Technology Group Price Performance

The company has a market capitalization of $19.07 billion, a P/E ratio of 57.44 and a beta of 2.67. The business’s 50-day moving average price is $124.23 and its two-hundred day moving average price is $142.57.

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

Institutional Trading of Credo Technology Group

A number of large investors have recently bought and sold shares of CRDO. California Public Employees Retirement System increased its position in shares of 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 acquiring an additional 37,772 shares in the last quarter. Optimize Financial Inc bought a new stake in Credo Technology Group in the 3rd quarter valued at $1,431,000. Estate Counselors LLC bought a new stake in Credo Technology Group in the 3rd quarter valued at $2,548,000. Global Trust Asset Management LLC acquired a new position in Credo Technology Group in the 3rd quarter worth $2,167,000. Finally, New York State Common Retirement Fund boosted its stake in Credo Technology Group by 106.5% in the 3rd 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.

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.