Insider Selling: Credo Technology Group (NASDAQ:CRDO) CEO Sells 50,000 Shares of Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CEO William Joseph Brennan sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $171.23, for a total value of $8,561,500.00. Following the sale, the chief executive officer directly owned 1,942,502 shares in the company, valued at $332,614,617.46. This trade represents a 2.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, October 30th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The stock was sold at an average price of $171.23, for a total value of $3,084,879.68.
• On Tuesday, October 7th, William Joseph Brennan sold 9,476 shares of Credo Technology Group stock. The stock was sold at an average price of $140.06, for a total value of $1,327,208.56.
• 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.

Credo Technology Group Stock Performance

CRDO stock traded down $6.98 on Monday, reaching $180.64. The company had a trading volume of 4,517,210 shares, compared to its average volume of 5,383,398. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $193.50. The company’s fifty day moving average is $147.35 and its 200 day moving average is $104.37. The company has a market cap of $31.25 billion, a P/E ratio of 269.61 and a beta of 2.62.

Credo Technology Group (NASDAQ:CRDO) last posted 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 company had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same period in the previous year, the company posted $0.04 EPS. Credo Technology Group’s quarterly revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRDO. Mizuho upped their target price 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. Susquehanna upped their target price on Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Credo Technology Group in a research note on Tuesday, October 7th. TD Cowen began coverage on Credo Technology Group in a report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 price target for the company. Finally, Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Credo Technology Group has a consensus rating of “Buy” and an average target price of $140.36.

Institutional Trading of Credo Technology Group

A number of institutional investors and hedge funds have recently made changes to their positions in CRDO. Operose Advisors LLC boosted its position in Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Credo Technology Group in the 1st quarter valued at about $25,000. First Horizon Corp purchased a new position in Credo Technology Group in the 3rd quarter valued at about $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credo Technology Group in the 1st quarter valued at about $27,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Credo Technology Group in the 2nd quarter valued at about $27,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.