Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $139.93, for a total transaction of $4,197,900.00. Following the completion of the transaction, the chief technology officer directly owned 6,387,370 shares of the company's stock, valued at $893,784,684.10. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Friday, January 2nd, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.61, for a total transaction of $4,308,300.00.
- 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 shares were 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 value 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.
Credo Technology Group Stock Performance
Shares of CRDO stock opened at $156.07 on Tuesday. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $213.80. The firm has a market capitalization of $28.19 billion, a PE ratio of 136.90 and a beta of 2.66. The stock's 50-day simple moving average is $153.79 and its 200-day simple moving average is $137.61.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.18. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The firm had revenue of $268.03 million during the quarter, compared to the consensus estimate of $234.99 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company's revenue was up 272.1% compared to the same quarter last year. Sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.
Credo Technology Group News Summary
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Positive momentum stories from retail/financial press that can attract buying interest — recent pieces highlight CRDO as a top momentum pick, increasing visibility among momentum traders and retail investors. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd. (CRDO) is a Great Choice
- Positive Sentiment: Additional bullish write-up from Zacks reinforcing the momentum narrative; such analyst/coverage pieces often boost short-term demand and can amplify moves after strong recent earnings. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd.
- Positive Sentiment: Follow-up coverage noting a recent price gain increases attention and may trigger additional buying from momentum/short-term traders. Credo Technology Group (NASDAQ:CRDO) Shares Up 6.2% - Should You Buy?
- Neutral Sentiment: Reported short-interest data shows effectively zero short interest (and an anomalous “NaN” change), suggesting little short-seller pressure to fuel squeezes — likely a data/reporting quirk rather than a market driver. (No link available.)
- Negative Sentiment: Insider selling by executives — CTO Chi Fung Cheng sold 30,000 shares (~$4.2M) (SEC Form 4 filed). Large insider sales by senior officers can weigh on sentiment even though insiders still hold large positions. CTO Form 4
- Negative Sentiment: Additional insider sales reported: multiple filings show the CFO sold roughly $597k and $547k, and the CEO sold roughly $1.41M and $1.32M in separate transactions — cumulative insider selling may temper gains. CFO Sells $597,412 CFO Sells $546,865 CEO Sells $1,411,873 CEO Sells $1,322,281
Analyst Upgrades and Downgrades
CRDO has been the subject of a number of research reports. Bank of America boosted their target price on shares of Credo Technology Group from $165.00 to $240.00 and gave the company a "buy" rating in a research report on Tuesday, December 2nd. Barclays boosted their price objective on Credo Technology Group from $165.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 2nd. TD Cowen raised their target price on Credo Technology Group from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Tuesday, December 2nd. JPMorgan Chase & Co. began coverage on Credo Technology Group in a report on Friday, October 17th. They issued an "overweight" rating and a $165.00 price target for the company. Finally, Cowen restated a "buy" rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $217.08.
Check Out Our Latest Stock Analysis on Credo Technology Group
Institutional Trading of Credo Technology Group
Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its position in shares of Credo Technology Group by 128.4% in the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock valued at $284,000 after buying an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after acquiring an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Credo Technology Group by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company's stock worth $12,480,000 after acquiring an additional 7,107 shares during the period. Strs Ohio purchased a new position in Credo Technology Group during the first quarter valued at $1,108,000. Finally, Invst LLC purchased a new position in Credo Technology Group during the first quarter valued at $348,000. 80.46% of the stock is owned by institutional investors and hedge funds.
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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