Credo Technology Group (NASDAQ:CRDO) CTO Sells $5,307,225.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 27,500 shares of the stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $192.99, for a total value of $5,307,225.00. Following the sale, the chief technology officer directly owned 5,607,397 shares in the company, valued at $1,082,171,547.03. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Monday, October 12th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $201.84, for a total transaction of $764,973.60.
• On Tuesday, October 6th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were 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 shares were 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 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 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 shares were 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 Trading Down 9.6%

CRDO stock traded down $19.08 on Wednesday, hitting $179.23. The company had a trading volume of 12,161,207 shares, compared to its average volume of 7,583,224. Credo Technology Group Holding Ltd. has a 12-month low of $86.49 and a 12-month high of $308.67. The stock has a market cap of $33.69 billion, a price-to-earnings ratio of 63.78, a P/E/G ratio of 0.80 and a beta of 3.25. The stock’s 50-day simple moving average is $207.99 and its 200 day simple moving average is $203.90.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results 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. The business had revenue of $479.00 million during the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company’s quarterly revenue was up 114.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Research analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

More Credo Technology Group News

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

• Positive Sentiment: Credo’s AI connectivity demand remains robust. Recent quarterly revenue increased 114.7% year over year to $479 million, while EPS exceeded analyst expectations. Analysts cited in recent coverage expect fiscal 2027 revenue to rise more than 85%, supported by record sales and expansion of the optical business. Does Credo’s Revenue Outlook Signal Further Upside?
• Positive Sentiment: The company unveiled its 1.6T ZeroFlap Active Light Cable, designed for AI data centers with lower power consumption, longer reach and improved reliability. Commercial shipments are expected around 2027, creating a potential new growth driver as data-center bandwidth requirements increase. Credo Expands AI Connectivity Portfolio
• Positive Sentiment: Credo is leading an Open Compute Project workstream to standardize Short-Reach Micro-Emitter Optics, potentially positioning its technology for broader hyperscaler adoption. Its collaboration with AMD on memory connectivity also expands the company’s opportunity beyond active electrical cables. Credo Launches SRMO Standardization
• Neutral Sentiment: Some analysts view CRDO as undervalued relative to its growth and peers, with a consensus “Moderate Buy” rating. However, the company still trades at a high earnings multiple and relies heavily on two customers. Investors must also wait for newer optical products to ship at scale before they can materially affect results.
• Negative Sentiment: The recent decline appears largely linked to sector-wide weakness and profit-taking in AI infrastructure stocks rather than a newly reported operational problem. High volatility and valuation sensitivity remain risks if customer capital spending slows. Does the Drop in Credo Stock Change Anything?
• Negative Sentiment: CFO Daniel Fleming sold 7,580 shares under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by only 1.52% and left him with a substantial stake, limiting its significance, but it may add modest pressure to sentiment.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Reflection Asset Management purchased a new position in Credo Technology Group during the fourth quarter valued at $25,000. Orion Capital Management LLC purchased a new stake in Credo Technology Group in the second quarter worth about $27,000. AlphaCentric Advisors LLC purchased a new stake in Credo Technology Group in the first quarter worth about $33,000. Burkett Financial Services LLC bought a new position in shares of Credo Technology Group in the third quarter worth about $33,000. Finally, Western Wealth Management LLC bought a new position in shares of Credo Technology Group in the first quarter worth about $38,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CRDO. Stifel Nicolaus reduced their price objective on Credo Technology Group from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Evercore set a $292.00 price target on Credo Technology Group in a research note on Wednesday, September 2nd. Wall Street Zen downgraded Credo Technology Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. TD Cowen upped their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Bank of America lowered their price objective on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

Credo Technology Group Company Profile

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.