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 the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $148.35, for a total transaction of $8,159,250.00. Following the sale, the chief technology officer directly owned 6,833,961 shares in the company, valued at approximately $1,013,818,114.35. The trade was a 0.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 29th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $148.87, for a total transaction of $8,187,850.00.
• On Monday, September 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $164.98, for a total transaction of $9,073,900.00.
• On Monday, September 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $163.98, for a total transaction of $9,018,900.00.
• On Monday, September 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $146.21, for a total transaction 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 transaction 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 transaction 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 transaction of $5,309,700.00.
• On Monday, July 14th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $98.53, for a total transaction of $5,419,150.00.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $137.20 on Wednesday. Credo Technology Group Holding Ltd. has a one year low of $29.09 and a one year high of $176.70. The firm has a market cap of $23.74 billion, a P/E ratio of 204.78 and a beta of 2.60. The firm has a 50-day simple moving average of $134.55 and a 200-day simple moving average of $89.70.

Credo Technology Group (NASDAQ:CRDO) last posted 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 net margin of 20.85% and a return on equity of 19.02%. The business had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. During the same quarter in the prior year, the firm posted $0.04 EPS. The company’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRDO shares. Mizuho raised their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research report on Saturday, September 27th. Roth Capital reaffirmed a “buy” rating and set a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Stifel Nicolaus set a $160.00 price objective on shares of Credo Technology Group in a research note on Wednesday, October 1st. Finally, William Blair assumed coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They issued an “outperform” rating on the stock. 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 stock. Based on data from MarketBeat, Credo Technology Group currently has an average rating of “Buy” and a consensus price target of $128.55.

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its holdings in Credo Technology Group by 27.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock valued at $270,000 after buying an additional 1,467 shares during the period. Realta Investment Advisors acquired a new position in shares of Credo Technology Group during the second quarter worth about $300,000. Farther Finance Advisors LLC grew its position in shares of Credo Technology Group by 850.6% during the second quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after buying an additional 3,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Credo Technology Group during the first quarter worth about $27,000. Finally, Teacher Retirement System of Texas boosted its holdings in Credo Technology Group by 464.4% in the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock valued at $1,405,000 after purchasing an additional 28,788 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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.