Credo Technology Group (NASDAQ:CRDO) CEO Sells $1,327,208.56 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CEO William Joseph Brennan sold 9,476 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $140.06, for a total value of $1,327,208.56. Following the completion of the sale, the chief executive officer owned 347,399 shares in the company, valued at approximately $48,656,703.94. This represents a 2.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

William Joseph Brennan also recently made the following trade(s):

• On Tuesday, September 16th, William Joseph Brennan sold 50,000 shares of Credo Technology Group stock. The stock was sold at an average price of $164.11, for a total value of $8,205,500.00.
• On Tuesday, September 16th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The stock was sold at an average price of $164.11, for a total value of $2,956,605.76.
• On Friday, August 1st, William Joseph Brennan sold 150,000 shares of Credo Technology Group stock. The stock was sold at an average price of $106.87, for a total value of $16,030,500.00.
• On Friday, August 1st, William Joseph Brennan sold 46,444 shares of Credo Technology Group stock. The stock was sold at an average price of $106.87, for a total value of $4,963,470.28.

Credo Technology Group Price Performance

Shares of NASDAQ:CRDO opened at $138.83 on Friday. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $176.70. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 207.21 and a beta of 2.60. The business’s 50 day moving average price is $136.63 and its 200-day moving average price is $91.74.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Congress Asset Management Co. increased its stake in shares of Credo Technology Group by 992.0% in the 3rd quarter. Congress Asset Management Co. now owns 413,818 shares of the company’s stock worth $60,256,000 after acquiring an additional 375,922 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group in the 3rd quarter worth $320,000. Voya Investment Management LLC increased its stake in shares of Credo Technology Group by 123.8% in the 3rd quarter. Voya Investment Management LLC now owns 237,867 shares of the company’s stock worth $34,636,000 after acquiring an additional 131,574 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Credo Technology Group by 157.0% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 8,931 shares of the company’s stock worth $1,300,000 after acquiring an additional 5,456 shares during the last quarter. Finally, Bay Rivers Group acquired a new stake in shares of Credo Technology Group in the 3rd quarter worth $283,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CRDO shares. William Blair started coverage on Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating on the stock. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday. Mizuho increased their price objective on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, Roth Capital reissued a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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.