Key Points
- CTO Chi Fung Cheng sold 27,500 shares on April 22 at $188.02 for a total of $5,170,550 under a pre‑arranged Rule 10b5‑1 plan, leaving him with 6,079,870 shares (about a 0.45% reduction).
- The April 22 sale is part of a string of recent insider disposals — multiple 27,500‑share sales since March (and one in January) at progressively higher prices — consistent with a systematic 10b5‑1 selling program.
- Credo reported strong quarterly results (Q3 EPS $1.07 vs $0.78 estimate; revenue +201.5% to ~$407M) and enjoys mostly bullish analyst coverage (consensus "Moderate Buy," $207.81 target), but carries a high P/E (~108) and integration/valuation risks tied to its optics expansion (DustPhotonics).
Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $188.02, for a total transaction of $5,170,550.00. Following the sale, the chief technology officer directly owned 6,079,870 shares of the company's stock, valued at $1,143,137,157.40. The trade was a 0.45% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Thursday, April 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $157.58, for a total transaction of $4,333,450.00.
- On Friday, April 10th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $118.25, for a total transaction of $3,251,875.00.
- On Monday, April 6th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $103.19, for a total transaction of $2,837,725.00.
- On Sunday, April 5th, Chi Fung Cheng sold 2,434 shares of Credo Technology Group stock. The stock was sold at an average price of $101.45, for a total transaction of $246,929.30.
- On Tuesday, March 31st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $91.28, for a total transaction of $2,510,200.00.
- On Tuesday, March 24th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $100.67, for a total transaction of $2,768,425.00.
- On Tuesday, March 17th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $107.90, for a total transaction of $2,967,250.00.
- On Wednesday, March 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was 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.
Credo Technology Group Stock Performance
Shares of CRDO stock opened at $195.04 on Friday. The company has a market capitalization of $35.98 billion, a price-to-earnings ratio of 108.36 and a beta of 2.72. The company has a 50-day simple moving average of $122.15 and a 200 day simple moving average of $138.66. Credo Technology Group Holding Ltd. has a 52 week low of $40.17 and a 52 week high of $213.80.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.29. The firm had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The business's revenue for the quarter was up 201.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on CRDO shares. Stifel Nicolaus set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Barclays reissued an "overweight" rating and issued a $260.00 price objective on shares of Credo Technology Group in a report on Thursday, January 15th. Rosenblatt Securities boosted their price objective on shares of Credo Technology Group from $125.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday, April 15th. Mizuho cut their price objective on shares of Credo Technology Group from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, March 3rd. Finally, Susquehanna dropped their target price on shares of Credo Technology Group from $230.00 to $170.00 and set a "positive" rating for the company in a research report on Tuesday, March 3rd. 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 company. According to MarketBeat, Credo Technology Group currently has an average rating of "Moderate Buy" and a consensus price target of $207.81.
Get Our Latest Analysis on CRDO
Credo Technology Group News Roundup
Here are the key news stories impacting Credo Technology Group this week:
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Savant Capital LLC raised its holdings in shares of Credo Technology Group by 0.7% in the third 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 last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Credo Technology Group by 16.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock worth $80,000 after buying an additional 77 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Credo Technology Group by 0.6% during the third quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company's stock worth $2,298,000 after buying an additional 91 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its stake in shares of Credo Technology Group by 2.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company's stock worth $741,000 after purchasing an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Credo Technology Group by 18.0% in the third quarter. Versant Capital Management Inc now owns 663 shares of the company's stock worth $97,000 after purchasing an additional 101 shares in the last quarter. 80.46% of the stock is owned by institutional investors.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
