William Joseph Brennan Sells 54,984 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Sunday, April 5th, William Joseph Brennan sold 6,149 shares of Credo Technology Group stock. The stock was sold at an average price of $101.45, for a total transaction of $623,816.05.
• On Thursday, April 2nd, William Joseph Brennan sold 6,149 shares of Credo Technology Group stock. The stock was sold at an average price of $101.45, for a total transaction of $623,816.05.
• On Wednesday, March 11th, William Joseph Brennan sold 50,000 shares of Credo Technology Group stock. The stock was sold at an average price of $117.68, for a total transaction of $5,884,000.00.
• On Wednesday, March 11th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The stock was sold at an average price of $117.68, for a total transaction of $2,120,122.88.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO traded up $12.05 on Tuesday, reaching $234.32. The company’s stock had a trading volume of 15,582,389 shares, compared to its average volume of 7,402,494. Credo Technology Group Holding Ltd. has a 52-week low of $66.75 and a 52-week high of $252.70. The company has a market cap of $43.22 billion, a P/E ratio of 94.48, a PEG ratio of 1.34 and a beta of 3.22. The company has a 50-day simple moving average of $172.17 and a 200 day simple moving average of $147.79.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. During the same period last year, the company posted $0.20 EPS. The business’s revenue was up 157.0% on a year-over-year basis. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRDO. Mirae Asset Global Investments Co. Ltd. raised its position in Credo Technology Group by 9.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock worth $39,004,000 after buying an additional 23,332 shares during the last quarter. M&T Bank Corp raised its position in Credo Technology Group by 428.8% during the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after buying an additional 10,888 shares during the last quarter. FengHe Fund Management Pte. Ltd. raised its position in Credo Technology Group by 5.7% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after buying an additional 8,769 shares during the last quarter. TD Asset Management Inc purchased a new position in Credo Technology Group during the 3rd quarter worth approximately $17,454,000. Finally, Second Line Capital LLC purchased a new position in Credo Technology Group during the 3rd quarter worth approximately $4,283,000. 80.46% of the stock is currently owned by institutional investors.

Key Stories Impacting Credo Technology Group

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo has been one of the best-performing semiconductor names recently, with the stock rising sharply over the past three months as AI infrastructure demand continues to support growth and investor enthusiasm. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Traders bought unusually large volumes of CRDO call options, suggesting bullish sentiment and expectations for continued strength in the shares.
• Positive Sentiment: The company recently reported quarterly results that beat analyst expectations on both earnings and revenue, with revenue up sharply year over year, reinforcing the growth narrative behind the stock.
• Neutral Sentiment: A large insider sale by Director Sylvia Acevedo may be viewed as routine profit-taking, but it can still catch investors’ attention because it reduces her stake in the company.
• Neutral Sentiment: CEO William Joseph Brennan also sold shares, which likewise may be interpreted as insider selling after a strong run in the stock, though it does not necessarily indicate a change in the business outlook.

Analyst Ratings Changes

CRDO has been the topic of a number of analyst reports. TD Cowen boosted their price objective on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings upgraded shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Craig Hallum restated a “buy” rating and issued a $200.00 price target on shares of Credo Technology Group in a report on Tuesday, March 3rd. The Goldman Sachs Group restated a “buy” rating and issued a $250.00 price target on shares of Credo Technology Group in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $248.41.

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.