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 on Monday, July 27th. The stock was sold at an average price of $205.54, for a total transaction of $5,652,350.00. Following the transaction, the chief technology officer owned 5,799,870 shares in the company, valued at $1,192,105,279.80. This represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Tuesday, July 21st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $222.34, for a total value of $6,114,350.00.
- On Wednesday, July 8th, Chi Fung Cheng sold 3,790 shares of Credo Technology Group stock. The stock was sold at an average price of $258.71, for a total value of $980,510.90.
- 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 value of $6,684,150.00.
- On Tuesday, June 30th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $269.84, for a total value of $7,420,600.00.
- On Tuesday, June 23rd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $270.94, for a total value of $7,450,850.00.
- On Tuesday, June 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $246.69, for a total value of $6,783,975.00.
- On Thursday, June 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $259.53, for a total value 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 value of $4,922,225.00.
Credo Technology Group Stock Down 7.7%
CRDO stock opened at $177.50 on Thursday. The business's 50-day moving average price is $236.68 and its 200-day moving average price is $171.23. The stock has a market cap of $33.10 billion, a P/E ratio of 71.57, a PEG ratio of 0.88 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 earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The company had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm's quarterly revenue was up 157.0% compared to the same quarter last year. On average, equities research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.
More Credo Technology Group News
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: A Seeking Alpha analysis argued that the CRDO sell-off looks overblown, pointing to the company’s strong AI-related growth prospects and suggesting the recent weakness may create an attractive entry point. Credo Stock Sell-Off Looks Overblown
- Positive Sentiment: Credo was included in Zacks’ Rank #1 (Strong Buy) growth-stock list, reinforcing favorable near-term analyst sentiment. Best Growth Stocks to Buy for July 28th
- Positive Sentiment: Analyst coverage remains supportive, with a broad “Buy” consensus and price targets above recent trading levels. The company’s latest reported quarter also showed 157% year-over-year revenue growth, earnings above expectations, and a 35.37% net margin.
- Neutral Sentiment: Credo’s chief technology officer, Chi Fung Cheng, sold 27,500 shares for approximately $5.65 million at an average price of $205.54 on July 27. The sale reduced his holdings by only 0.47%, and it was conducted under a pre-arranged Rule 10b5-1 plan. SEC insider transaction filing
- Negative Sentiment: The CTO has made several scheduled sales in recent months, including another 27,500-share transaction on July 21. While the transactions appear routine and he still owns roughly 5.8 million shares, repeated insider selling can weigh on sentiment, particularly after CRDO’s significant run-up.
- Negative Sentiment: MarketBeat characterized Credo among AI stocks undergoing a summer pullback. Investors may be locking in gains across the AI and semiconductor sector despite continued data-center spending and intact long-term growth catalysts. 5 AI Stocks Are Pulling Back
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC grew its position 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 purchasing an additional 106 shares in the last quarter. Reflection Asset Management purchased a new stake in shares of Credo Technology Group in the fourth quarter worth about $25,000. Acumen Wealth Advisors LLC bought a new position in Credo Technology Group during the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC bought a new position in Credo Technology Group during the fourth quarter valued at approximately $32,000. Finally, AlphaCentric Advisors LLC purchased a new position in Credo Technology Group during the 1st quarter valued at approximately $33,000. Institutional investors own 80.46% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Credo Technology Group from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, June 2nd. Rosenblatt Securities boosted their price objective on Credo Technology Group from $175.00 to $215.00 and gave the company a "neutral" rating in a research report on Tuesday, June 2nd. Susquehanna upped their price objective on Credo Technology Group from $235.00 to $250.00 and gave the stock a "positive" rating in a research note on Tuesday, July 21st. Mizuho increased their target price on Credo Technology Group from $260.00 to $290.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 2nd. Finally, Rothschild & Co Redburn initiated coverage on Credo Technology Group in a report on Friday, May 1st. They issued a "buy" rating and a $206.00 price target on the stock. Two 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 stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of "Buy" and a consensus target price of $266.17.
Read Our Latest Stock Analysis on Credo Technology Group
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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