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

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 27,500 shares of the stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $193.93, for a total transaction of $5,333,075.00. Following the transaction, the chief technology officer directly owned 5,662,397 shares in the company, valued at approximately $1,098,108,650.21. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 stock was 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 stock was sold at an average price of $209.53, for a total value 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 value of $5,652,350.00.
• On Tuesday, July 21st, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $222.34, for a total value of $6,114,350.00.
• On Wednesday, July 8th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $258.71, for a total value of $980,510.90.
• On Tuesday, July 7th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $243.06, for a total value of $6,684,150.00.

Credo Technology Group Stock Performance

Shares of CRDO traded up $15.38 during trading hours on Thursday, hitting $210.17. 9,361,458 shares of the stock were exchanged, compared to its average volume of 7,518,248. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67. The company has a market cap of $39.50 billion, a price-to-earnings ratio of 74.79, a price-to-earnings-growth ratio of 0.77 and a beta of 3.22. The stock’s 50-day moving average price is $207.63 and its two-hundred day moving average price is $197.22.

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

Key Credo Technology Group News

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

• Positive Sentiment: Analysts and financial commentators highlight Credo’s triple-digit revenue growth, strong hyperscaler relationships and role in connecting large AI computing clusters. The company is benefiting from AI spending shifting toward networking, cabling and optical connectivity rather than computing power alone. AI Spending Is Entering Its Next Phase
• Positive Sentiment: Recent coverage points to Credo’s expansion into optical products, including its 224G-based 1.6T optical transceiver, as a potential second growth engine alongside its existing connectivity business. This could strengthen the company’s position as AI infrastructure requirements become more demanding. Credo: Opportunity Is Knocking
• Positive Sentiment: Credo’s latest reported quarter showed revenue of $479 million, up 114.7% year over year, while EPS of $1.20 exceeded the $1.17 consensus estimate. Follow-up coverage says the stock has risen 17.9% since those results, with earnings estimates and business momentum remaining key catalysts. Credo Technology Group Up Since Last Earnings Report
• Positive Sentiment: Sell-side sentiment remains favorable: Credo carries a “Moderate Buy” consensus rating, with reported price targets as high as $300 and an average target of $264.89. Momentum-focused coverage also identifies CRDO as a strong growth and momentum stock. Credo Rated Moderate Buy
• Neutral Sentiment: Articles comparing Credo with Arm frame the investment case around explosive AI connectivity growth versus Arm’s more established smartphone and computing architecture business. The coverage is bullish but reflects opinion rather than a new company announcement. Arm vs. Credo Technology Group
• Negative Sentiment: Credo’s CEO sold 16,672 shares valued at approximately $2.5 million, while COO Yat Tung Lam sold 50,000 shares for about $10.3 million under a pre-arranged Rule 10b5-1 plan. The sales were small relative to the executives’ remaining holdings and appear scheduled, but insider selling can still weigh on sentiment. Credo Technology CEO Sells Shares

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of CRDO. Corient Private Wealth LLC increased its position in shares of Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after acquiring an additional 3,597,318 shares during the last quarter. Atreides Management LP purchased a new position in shares of Credo Technology Group during the 1st quarter worth approximately $102,434,000. The Manufacturers Life Insurance Company increased its holdings in Credo Technology Group by 192.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock valued at $98,290,000 after purchasing an additional 688,596 shares during the last quarter. H&H International Investment LLC raised its position in Credo Technology Group by 431.6% in the first quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock valued at $70,515,000 after purchasing an additional 609,900 shares during the period. Finally, Scge Management L.P. acquired a new position in Credo Technology Group during the fourth quarter worth $82,017,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Evercore set a $292.00 price target on shares of Credo Technology Group in a research report on Wednesday, September 2nd. Zacks Research downgraded shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Bank of America lowered their target price on Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, September 2nd. Finally, Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 18th. One equities research 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’s stock. According to data from MarketBeat.com, Credo Technology Group has an average rating of “Moderate Buy” and a consensus target price of $264.89.

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.