Credo Technology Group (NASDAQ:CRDO) CTO Chi Fung Cheng Sells 55,000 Shares

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $148.08, for a total value of $8,144,400.00. Following the completion of the sale, the chief technology officer directly owned 6,778,961 shares in the company, valued at $1,003,828,544.88. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Chi Fung Cheng also recently made the following trade(s):

• On Monday, October 6th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $148.35, for a total value of $8,159,250.00.
• On Monday, September 29th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $148.87, for a total value of $8,187,850.00.
• On Monday, September 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $164.98, for a total value of $9,073,900.00.
• On Monday, September 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $163.98, for a total value of $9,018,900.00.
• On Monday, September 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $146.21, for a total value of $8,041,550.00.
• On Friday, August 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $107.12, for a total value of $5,891,600.00.
• On Monday, July 28th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $105.80, for a total value of $5,819,000.00.
• On Monday, July 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $96.54, for a total value of $5,309,700.00.

Credo Technology Group Trading Up 1.3%

CRDO opened at $131.41 on Thursday. The firm has a market cap of $22.73 billion, a P/E ratio of 196.13 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The stock has a 50-day moving average of $138.00 and a 200 day moving average of $93.38.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Susquehanna boosted their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a research report on Thursday, September 4th. Barclays restated an “overweight” rating and set a $165.00 target price on shares of Credo Technology Group in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. TD Cowen assumed coverage on Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 target price for the company. Finally, William Blair assumed coverage on Credo Technology Group in a report on Thursday, September 18th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group presently has an average rating of “Buy” and a consensus target price of $128.55.

Hedge Funds Weigh In On Credo Technology Group

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Credo Technology Group by 2.7% in the second quarter. Vanguard Group Inc. now owns 16,375,368 shares of the company’s stock worth $1,516,195,000 after buying an additional 430,445 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 worth $602,662,000 after purchasing an additional 1,739,844 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Credo Technology Group by 4.7% during the second quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock worth $334,740,000 after purchasing an additional 163,305 shares in the last quarter. Swedbank AB increased its position in shares of Credo Technology Group by 29.5% during 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 in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after purchasing an additional 1,218,504 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

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.