Insider Selling: Credo Technology Group (NASDAQ:CRDO) COO Sells $11,482,400.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) COO Yat Tung Lam sold 80,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the sale, the chief operating officer owned 920,000 shares of the company’s stock, valued at $132,047,600. The trade was a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Credo Technology Group Stock Down 3.8%

Shares of CRDO stock opened at $143.87 on Monday. Credo Technology Group Holding Ltd. has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The firm’s 50 day moving average price is $133.21 and its two-hundred day moving average price is $88.66. The stock has a market cap of $24.89 billion, a price-to-earnings ratio of 214.73 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business’s revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Credo Technology Group by 36.5% during the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock valued at $602,662,000 after buying an additional 1,739,844 shares during the last quarter. Nuveen LLC bought a new position in Credo Technology Group in the 1st quarter valued at about $52,636,000. Alliancebernstein L.P. raised its position in shares of Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after buying an additional 1,218,504 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Credo Technology Group during the 2nd quarter worth about $82,479,000. Finally, Swedbank AB lifted its position in Credo Technology Group by 29.5% in the first quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after purchasing an additional 733,811 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research report on Wednesday. William Blair began coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They issued an “outperform” rating for the company. Susquehanna boosted their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research report on Thursday, September 4th. Needham & Company LLC raised their price target on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Roth Capital reaffirmed a “buy” rating and set a $170.00 price target on shares of Credo Technology Group in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $128.55.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.