Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CEO William Brennan sold 16,666 shares of the business's stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $174.87, for a total value of $2,914,383.42. Following the completion of the transaction, the chief executive officer directly owned 1,584,164 shares in the company, valued at $277,022,758.68. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
William Joseph Brennan also recently made the following trade(s):
- On Monday, September 14th, William Brennan sold 16,672 shares of Credo Technology Group stock. The shares were sold at an average price of $151.88, for a total value of $2,532,143.36.
Credo Technology Group Price Performance
NASDAQ CRDO opened at $182.28 on Thursday. The business has a 50 day simple moving average of $199.85 and a 200 day simple moving average of $207.31. Credo Technology Group Holding Ltd. has a one year low of $86.49 and a one year high of $308.67. The stock has a market capitalization of $34.26 billion, a P/E ratio of 64.87, a P/E/G ratio of 0.68 and a beta of 3.25.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.03. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%. The business had revenue of $479.00 million during the quarter, compared to the consensus estimate of $473.30 million. During the same period in the previous year, the company posted $0.52 earnings per share. The firm's revenue for the quarter was up 114.7% on a year-over-year basis. Equities analysts expect that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.
Credo Technology Group News Roundup
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo’s recent quarter featured triple-digit revenue growth and a “beat-and-raise” outlook, reinforcing expectations for continued demand for its high-speed connectivity products used in AI data centers. Two Wall Street firms reportedly see substantial upside from current levels, arguing that the recent selloff has created an attractive entry point. Credo Technology Could Have 80% Upside
- Positive Sentiment: The company is developing optical cables designed to use approximately 30% less power than comparable copper products. Although the product is not expected to ship until 2027, investors may view optical connectivity as a potential second growth engine as AI data-center power demands increase. Credo Optical Cable Opportunity
- Neutral Sentiment: After a major multiyear rally tied to AI data-center connectivity, one analysis concluded that CRDO appears fairly valued based on the cash flows it can reasonably generate. This highlights the tension between the company’s strong growth prospects and its elevated valuation. Credo Stock Valuation Analysis
- Negative Sentiment: CEO William Brennan sold 16,666 shares for approximately $2.9 million, reducing his direct ownership by about 1.04%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which limits its significance as a discretionary bearish signal, but insider selling can still weigh modestly on sentiment. Credo CEO SEC Form 4 Filing
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Credo Technology Group in the second quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new stake in Credo Technology Group in the third quarter valued at approximately $33,000. Reflection Asset Management bought a new stake in shares of Credo Technology Group during the fourth quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Credo Technology Group by 4,900.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 200 shares of the company's stock valued at $39,000 after acquiring an additional 196 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of Credo Technology Group during the third quarter worth approximately $40,000. 80.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Credo Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Susquehanna increased their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a "positive" rating in a research note on Tuesday, July 21st. Evercore set a $292.00 target price on shares of Credo Technology Group in a research note on Wednesday, September 2nd. Stifel Nicolaus reduced their price target on shares of Credo Technology Group from $350.00 to $310.00 and set a "buy" rating for the company in a report on Monday, October 5th. Finally, Barclays raised their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock an "overweight" rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $262.67.
Read Our Latest Research Report on Credo Technology Group
Credo Technology Group Company Profile
(
Get Free Report)
Credo Technology Group Holding Ltd. is a fabless semiconductor and connectivity solutions company that develops high-speed data-infrastructure technologies. Its products are designed to help data centers and communications networks move large volumes of information with lower power consumption and improved signal integrity.
The company's portfolio includes serializer/deserializer (SerDes) intellectual property, application-specific integrated circuits, active electrical cables, optical digital signal processors and related connectivity platforms.
Further Reading
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