Key Points
- CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group (NASDAQ:CRDO) on March 24 at an average price of $100.67 for about $2.77 million, leaving him with 6,217,370 shares (a 0.44% reduction worth roughly $625.9 million).
- The March 24 trade is part of a sustained insider‑selling pattern by Cheng — multiple recent transactions since late December (including several 27,500–55,000 share sales) have generated millions of dollars in proceeds.
- Credo posted a strong quarter (EPS $1.07 vs. $0.78 estimate; revenue $407.0M vs. $385.9M, up ~201.5% YoY), but the stock trades at a premium (P/E ~52.9, beta 2.67) with elevated valuation and volatility despite broad analyst Buy interest (average target ~$206.33).
Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $100.67, for a total value of $2,768,425.00. Following the sale, the chief technology officer directly owned 6,217,370 shares in the company, valued at approximately $625,902,637.90. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Chi Fung Cheng also recently made the following trade(s):
- On Tuesday, March 17th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $107.90, for a total value of $2,967,250.00.
- On Wednesday, March 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $117.60, for a total transaction of $3,234,000.00.
- On Thursday, January 29th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $127.37, for a total transaction of $3,502,675.00.
- On Thursday, January 22nd, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The stock was sold at an average price of $136.33, for a total transaction of $4,089,900.00.
- On Thursday, January 15th, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The shares were sold at an average price of $155.47, for a total transaction of $4,664,100.00.
- On Thursday, January 8th, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The shares were sold at an average price of $139.93, for a total transaction of $4,197,900.00.
- 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 value 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 value of $7,887,550.00.
Credo Technology Group Stock Performance
Shares of CRDO opened at $95.24 on Friday. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $213.80. The firm has a market cap of $17.57 billion, a price-to-earnings ratio of 52.91 and a beta of 2.67. The business's fifty day moving average is $117.83 and its 200-day moving average is $141.19.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.29. The business had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.Credo Technology Group's revenue for the quarter was up 201.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.
Hedge Funds Weigh In On Credo Technology Group
A number of hedge funds and other institutional investors have recently made changes to their positions in CRDO. Savant Capital LLC increased its position in Credo Technology Group by 0.7% during the 3rd quarter. Savant Capital LLC now owns 9,914 shares of the company's stock valued at $1,444,000 after purchasing an additional 68 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Credo Technology Group by 16.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock worth $80,000 after purchasing an additional 77 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Credo Technology Group by 0.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company's stock valued at $2,298,000 after purchasing an additional 91 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Credo Technology Group by 2.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company's stock valued at $741,000 after purchasing an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Credo Technology Group by 18.0% during the third quarter. Versant Capital Management Inc now owns 663 shares of the company's stock worth $97,000 after buying an additional 101 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and set a $125.00 price target on shares of Credo Technology Group in a report on Monday, March 23rd. Bank of America increased their price target 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. New Street Research set a $240.00 price objective on Credo Technology Group in a report on Tuesday, December 2nd. Barclays restated an "overweight" rating and set a $260.00 price objective on shares of Credo Technology Group in a research report on Thursday, January 15th. Finally, Stifel Nicolaus set a $200.00 target price on Credo Technology Group in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $206.33.
Check Out Our Latest Stock Analysis on CRDO
Key Credo Technology Group News
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: New high‑end products deepen AI interconnect position — Credo rolled out its 1.6T Cardinal DSP push and expanded optical DSP lineup, reinforcing its roadmap for high‑bandwidth, power‑efficient AI links that can drive large data‑center design wins. Credo Expands AI Interconnect Play
- Positive Sentiment: Strong AI‑data‑center demand narrative — coverage highlights accelerating hyperscaler adoption, retimers/optical DSP scale and surging AEC (assembled‑electronics components) demand that support Credo’s revenue ramp. What Is Driving Credo's Growth
- Positive Sentiment: Legal overhangs cleared — recent settlements with Molex and TE Connectivity resolve patent/active‑cable disputes, removing potential litigation uncertainty that could aid investor sentiment. Credo and Molex Settlement Credo and TE Connectivity Settlement
- Neutral Sentiment: Momentum‑stock recognition — Zacks includes CRDO in a short list of momentum anomaly picks, which can attract trend traders but adds volatility. 3 Momentum Anomaly Stocks to Buy
- Neutral Sentiment: Third‑party commentary points to potential catalyst from hyperscaler moves — some analysts/bloggers flag possible large partnerships (e.g., commentary on an Alphabet-related shift), but impacts are speculative until confirmed by customers. Seeking Alpha: Alphabet Game Changer
- Negative Sentiment: Execution and concentration risks remain — analyst deep dives caution that customer concentration, margin variability and the complexity of shifting to optical DSPs create execution risk that could amplify swings in results. Deep Dive: Catalysts, Risks & Valuation
- Negative Sentiment: High valuation and recent pullback — CRDO trades at a premium (elevated P/E and high beta) after large YTD gains; that premium makes it sensitive to short‑term profit‑taking and execution headlines.
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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