Key Points
- Chi Fung Cheng, Credo's CTO, sold 30,000 CRDO shares on Jan 2 at an average price of $143.61 for $4,308,300, leaving him with 6,418,961 shares valued at about $921.8M (a 0.47% reduction in his position).
- He has repeatedly sold large blocks of stock in recent months (multiple 55,000‑share transactions in Oct–Dec), representing cumulative insider sales worth tens of millions of dollars.
- Credo’s fundamentals and sentiment remain strong: the company reported $0.67 EPS vs $0.49 expected and $268M revenue (up 272% YoY), the stock has a ~$24.01B market cap and P/E ~116.6, and analysts carry a consensus "Buy" target near $206.85 with top targets up to $230.
Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $143.61, for a total value of $4,308,300.00. Following the sale, the chief technology officer directly owned 6,418,961 shares in the company, valued at $921,826,989.21. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Chi Fung Cheng also recently made the following trade(s):
- On Monday, December 29th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $143.41, for a total transaction of $7,887,550.00.
- On Monday, December 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $150.77, for a total transaction of $8,292,350.00.
- On Monday, December 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.94, for a total transaction of $7,916,700.00.
- On Monday, December 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $174.70, for a total transaction of $9,608,500.00.
- On Monday, October 27th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $156.32, for a total value of $8,597,600.00.
- On Monday, October 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $150.34, for a total value of $8,268,700.00.
- On Monday, October 13th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $148.08, for a total value of $8,144,400.00.
Credo Technology Group Price Performance
Shares of CRDO opened at $132.95 on Wednesday. The firm's 50 day moving average is $156.14 and its 200-day moving average is $136.02. Credo Technology Group Holding Ltd. has a 12-month low of $29.09 and a 12-month high of $213.80. The stock has a market capitalization of $24.01 billion, a P/E ratio of 116.62 and a beta of 2.66.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.18. The firm had revenue of $268.03 million during the quarter, compared to analysts' expectations of $234.99 million. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The firm's revenue for the quarter was up 272.1% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. As a group, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have weighed in on CRDO shares. JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group in a research report on Friday, October 17th. They set an "overweight" rating and a $165.00 price objective on the stock. Cowen reissued a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Barclays raised their price objective on Credo Technology Group from $165.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 2nd. Mizuho lifted their target price on Credo Technology Group from $165.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, December 2nd. Finally, KGI Securities upgraded shares of Credo Technology Group from a "hold" rating to an "outperform" rating and set a $230.00 price target for the company in a report on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $206.85.
Get Our Latest Research Report on CRDO
Institutional Investors Weigh In On Credo Technology Group
Several institutional investors and hedge funds have recently modified their holdings of CRDO. Atlantic Union Bankshares Corp acquired a new stake in shares of Credo Technology Group in the third quarter worth about $25,000. First Horizon Corp acquired a new position in Credo Technology Group during the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its position in shares of Credo Technology Group by 133.6% in the third quarter. Smartleaf Asset Management LLC now owns 257 shares of the company's stock valued at $38,000 after purchasing an additional 147 shares during the period. Park Place Capital Corp bought a new position in shares of Credo Technology Group in the third quarter valued at approximately $41,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Credo Technology Group in the second quarter worth $27,000. Institutional investors and hedge funds own 80.46% of the company's stock.
About Credo Technology Group
(
Get Free Report)
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.
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