Key Points
- Credo Technology Group CTO Chi Fung Cheng sold 3,790 shares on July 8 at an average price of $258.71, worth about $980,511. The sale was disclosed in an SEC filing and was executed under a pre-arranged Rule 10b5-1 plan.
- The CTO has also been making a series of large recent sales, including multiple 27,500-share transactions over the prior weeks, while still holding 140,358 shares valued at roughly $36.3 million after the latest trade.
- Despite the insider selling, Credo’s business momentum remains strong: the company recently beat earnings expectations and posted revenue growth of 157% year over year, while analysts continue to rate the stock a Buy with a consensus price target of $263.11.
Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 3,790 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $258.71, for a total value of $980,510.90. Following the completion of the sale, the chief technology officer directly owned 140,358 shares of the company's stock, valued at approximately $36,312,018.18. The trade was a 2.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Chi Fung Cheng also recently made the following trade(s):
- On Tuesday, July 7th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $243.06, for a total transaction of $6,684,150.00.
- On Tuesday, June 30th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $269.84, for a total transaction of $7,420,600.00.
- On Tuesday, June 23rd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $270.94, for a total transaction of $7,450,850.00.
- On Tuesday, June 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $246.69, for a total transaction of $6,783,975.00.
- On Thursday, June 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $259.53, for a total transaction of $7,137,075.00.
- On Friday, May 1st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $178.99, for a total transaction of $4,922,225.00.
- On Monday, April 27th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $179.33, for a total transaction of $4,931,575.00.
- On Wednesday, April 22nd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $188.02, for a total transaction of $5,170,550.00.
- On Thursday, April 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were 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 value of $3,251,875.00.
Credo Technology Group Stock Up 2.7%
Shares of NASDAQ CRDO opened at $265.65 on Friday. The business's 50 day moving average price is $227.11 and its two-hundred day moving average price is $163.91. The company has a market cap of $49.54 billion, a PE ratio of 107.12, a price-to-earnings-growth ratio of 1.18 and a beta of 3.20. Credo Technology Group Holding Ltd. has a twelve month low of $86.49 and a twelve month high of $308.67.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The firm had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business's revenue for the quarter was up 157.0% compared to the same quarter last year. As a group, research analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.
Credo Technology Group News Roundup
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Recent articles highlight Credo’s strong positioning in AI data-center infrastructure, including active electrical cables and high-speed interconnects, with revenue growth and expanding margins helping fuel bullish investor sentiment. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
- Positive Sentiment: Commentary also points to Credo as a major AI infrastructure beneficiary, with its products reportedly embedded in hyperscaler training clusters and fiscal 2026 revenue more than tripling, reinforcing the long-term growth story. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
- Neutral Sentiment: Multiple reports noted that CTO Chi Fung Cheng sold shares under a pre-arranged Rule 10b5-1 trading plan, which is usually interpreted as routine selling rather than a direct negative signal, though it can still weigh on sentiment. Credo's CTO Sold 31,290 Shares. His Remaining $1.6 Billion Stake Tells the Real Story
- Neutral Sentiment: Credo was also mentioned in broader semiconductor market moves, where chip stocks fluctuated with the sector and geopolitical headlines, adding some day-to-day volatility to the stock’s trading. Chip Stocks Join in Broad Selloff
Institutional Investors Weigh In On Credo Technology Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Credo Technology Group by 9.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company's stock worth $39,004,000 after acquiring an additional 23,332 shares during the period. M&T Bank Corp lifted its position in shares of Credo Technology Group by 428.8% during the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company's stock valued at $1,932,000 after acquiring an additional 10,888 shares during the period. FengHe Fund Management Pte. Ltd. grew its holdings in shares of Credo Technology Group by 5.7% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company's stock worth $23,349,000 after purchasing an additional 8,769 shares in the last quarter. Second Line Capital LLC acquired a new stake in shares of Credo Technology Group during the 3rd quarter worth $4,283,000. Finally, Nordea Investment Management AB bought a new position in shares of Credo Technology Group in the fourth quarter worth $2,084,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on CRDO shares. Needham & Company LLC raised their price target on Credo Technology Group from $220.00 to $275.00 and gave the company a "buy" rating in a report on Monday, June 1st. The Goldman Sachs Group reissued a "buy" rating and issued a $250.00 price objective on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Rosenblatt Securities raised their target price on shares of Credo Technology Group from $175.00 to $215.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their target price on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, June 2nd. Finally, Bank of America upped their price target on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and a consensus price target of $263.11.
Get Our Latest Stock Analysis on CRDO
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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