Key Points
- CTO Chi Fung Cheng sold 27,500 CRDO shares on Jan 29 at an average of $127.37 for $3.50M, leaving him with 6,299,870 shares; the move is part of multiple large insider sales in Dec–Jan that also involved the CEO and a director.
- Credo beat quarterly expectations ( $0.67 EPS vs $0.49 est., revenue +272% YoY to $268.03M), but the stock is richly valued (market cap ≈ $21.7B, P/E ~105) while analysts remain mostly positive with an average price target of $216.54.
Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) Director Pantas Sutardja sold 1,875 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $128.67, for a total value of $241,256.25. Following the transaction, the director directly owned 5,892,034 shares in the company, valued at approximately $758,128,014.78. This represents a 0.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Credo Technology Group Trading Down 4.2%
Shares of NASDAQ CRDO opened at $119.96 on Tuesday. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of 105.23 and a beta of 2.65. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $213.80. The business has a 50 day simple moving average of $149.88 and a 200-day simple moving average of $142.27.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, December 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $234.99 million. During the same period last year, the business posted $0.07 earnings per share. The firm's revenue for the quarter was up 272.1% on a year-over-year basis. As a group, equities analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Rosenblatt Securities initiated coverage on Credo Technology Group in a research note on Wednesday, January 21st. They issued a "neutral" rating and a $170.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Credo Technology Group in a research report on Friday, October 17th. They set an "overweight" rating and a $165.00 price objective for the company. New Street Research set a $240.00 price objective on Credo Technology Group in a research note on Tuesday, December 2nd. Bank of America raised their target price on Credo Technology Group from $165.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday, December 2nd. Finally, Wolfe Research set a $240.00 price target on shares of Credo Technology Group in a report on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Credo Technology Group has a consensus rating of "Buy" and a consensus price target of $216.54.
View Our Latest Research Report on Credo Technology Group
Institutional Investors Weigh In On Credo Technology Group
A number of institutional investors and hedge funds have recently bought and sold shares of CRDO. Crewe Advisors LLC grew its holdings in shares of Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after buying an additional 106 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Credo Technology Group in the 3rd quarter valued at approximately $25,000. First Horizon Corp bought a new stake in Credo Technology Group in the third quarter worth approximately $26,000. Flagship Harbor Advisors LLC bought a new stake in Credo Technology Group in the fourth quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Credo Technology Group during the fourth quarter valued at about $36,000. 80.46% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting Credo Technology Group
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo announced deals that deepen its AI networking role with partners Blue Heron and 3M, signaling expanding traction in data‑center/AI interconnects and potential revenue growth from higher‑margin, AI-focused products. Credo Technology Deepens AI Role With Blue Heron And 3M Deal
- Neutral Sentiment: An independent bullish thesis outlines upside drivers and why some investors view CRDO as a growth story, useful as a longer‑term thesis but not immediate market-moving news. Credo Technology Group Holding Ltd (CRDO): A Bull Case Theory
- Neutral Sentiment: Reported short‑interest data is effectively zero/rounded (no meaningful change), so short covering or re‑shorting is unlikely to be driving today’s move. (Data appears anomalous.)
- Negative Sentiment: Several insiders sold shares in late Jan — including the CEO (multiple blocks totaling 68,016 and related filings), the CTO (27,500 shares) and a director (1,875 shares). Large insider sales can pressure sentiment, especially in a richly valued name. SEC filings: CEO/related Form 4 CEO Form 4, CTO Form 4 CTO Form 4, Director Form 4 Director Form 4
Credo Technology Group Company Profile
(
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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