Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report) CFO Daniel Fleming sold 40,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the sale, the chief financial officer owned 501,873 shares of the company’s stock, valued at $125,207,276.04. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Credo Technology Group Price Performance
CRDO opened at $239.18 on Wednesday. The business has a fifty day simple moving average of $190.37 and a 200 day simple moving average of $152.06. The company has a market capitalization of $44.12 billion, a PE ratio of 96.44, a price-to-earnings-growth ratio of 1.36 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 1 year low of $77.79 and a 1 year high of $270.21.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.14. The business had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The firm’s quarterly revenue was up 157.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.
Key Credo Technology Group News
- Positive Sentiment: Recent coverage remains upbeat on Credo’s growth story, pointing to strong AI connectivity demand, expanding optical product opportunities, and improving margins as reasons the stock has been bid higher. Credo Technology Stock Outlook Hinges on AI and Optical Scale
- Positive Sentiment: Analyst commentary also stayed constructive, including Mizuho reiterating an Outperform rating with a $290 target, reinforcing expectations that Credo can keep growing rapidly as AI networking spending expands. Mizuho Reiterates Outperform on Credo Technology Group Holding Ltd (CRDO)
- Positive Sentiment: Several articles framed Credo as a standout momentum stock and asked whether it can reach $300 by year-end, which adds to the bullish sentiment around the name. Can Credo Hit $300 By Year-End?
- Neutral Sentiment: CEO/CFO-related insider selling of 40,000 shares was disclosed, but it was done under a pre-arranged 10b5-1 plan and for tax withholding tied to equity vesting, making it less likely to be read as a negative signal on fundamentals. SEC Form 4 filing
- Negative Sentiment: After a huge rally, some commentary warned that CRDO’s valuation is getting stretched, so the stock could pull back if earnings growth, customer ramps, or margin expansion slow. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CRDO. Rosenblatt Securities upped their target price 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. Craig Hallum reiterated a “buy” rating and set a $200.00 target price on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Mizuho upped their price objective 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. Jefferies Financial Group upped their price objective on Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Rothschild & Co Redburn started coverage on Credo Technology Group in a research report on Friday, May 1st. They set a “buy” rating and a $206.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $248.41.
Read Our Latest Report on CRDO
Institutional Trading of Credo Technology Group
Several institutional investors and hedge funds have recently modified their holdings of the business. Crewe Advisors LLC raised its position in Credo Technology Group by 163.1% in 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 during the last quarter. Reflection Asset Management bought a new position in Credo Technology Group in the fourth quarter valued at about $25,000. Acumen Wealth Advisors LLC bought a new position in Credo Technology Group in the fourth quarter valued at about $25,000. Flagship Harbor Advisors LLC bought a new position in Credo Technology Group in the fourth quarter valued at about $32,000. Finally, AlphaCentric Advisors LLC bought a new position in Credo Technology Group in the first quarter valued at about $33,000. 80.46% of the stock is currently owned by institutional investors.
About Credo Technology Group
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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