Credo Technology Group (NASDAQ:CRDO) CTO Chi Fung Cheng Sells 27,500 Shares of Company Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Cheng sold 27,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $192.99, for a total value of $5,307,225.00. Following the transaction, the chief technology officer owned 5,607,397 shares of the company’s stock, valued at approximately $1,082,171,547.03. This trade represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 12th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The stock was sold at an average price of $201.84, for a total transaction of $764,973.60.
• On Tuesday, October 6th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $221.48, for a total transaction of $6,090,700.00.
• On Tuesday, September 29th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $193.93, for a total transaction of $5,333,075.00.
• On Wednesday, September 23rd, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $193.12, for a total transaction of $5,310,800.00.
• On Thursday, September 17th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $166.38, for a total transaction of $4,575,450.00.
• On Friday, September 4th, Chi Cheng sold 3,790 shares of Credo Technology Group stock. The shares were sold at an average price of $170.00, for a total transaction of $644,300.00.
• On Friday, July 31st, Chi Cheng sold 27,473 shares of Credo Technology Group stock. The stock was sold at an average price of $209.53, for a total transaction of $5,756,417.69.
• On Monday, July 27th, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $205.54, for a total transaction of $5,652,350.00.
• On Tuesday, July 21st, Chi Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $222.34, for a total transaction of $6,114,350.00.

Credo Technology Group Stock Performance

Shares of CRDO opened at $179.23 on Thursday. The company has a 50-day simple moving average of $207.08 and a 200-day simple moving average of $204.49. The firm has a market capitalization of $33.69 billion, a P/E ratio of 63.78, a P/E/G ratio of 0.79 and a beta of 3.25. Credo Technology Group Holding Ltd. has a 52 week low of $86.49 and a 52 week high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The business had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $473.30 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 114.7% on a year-over-year basis. As a group, equities analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current year.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo’s latest outlook remains robust, with revenue expected at approximately $525 million to $535 million and fiscal 2027 revenue projected to increase by more than 85%. The company’s most recent quarter delivered 114.7% year-over-year revenue growth to $479 million, exceeding analyst expectations. Credo revenue outlook article
• Positive Sentiment: The company introduced its 1.6T ZeroFlap Active Light Cable for AI data centers. The product is designed to provide longer reach, lower power consumption and improved reliability, potentially expanding Credo’s addressable market as hyperscalers increase networking capacity. Credo ZeroFlap cable article
• Positive Sentiment: Credo is helping lead an Open Compute Project workstream to standardize short-reach micro-emitter optics. If approved and adopted, the effort could support future optical connectivity sales and help reduce the company’s reliance on a small number of major customers. Credo SRMO workstream article
• Neutral Sentiment: Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating, but several firms have recently reduced price targets. The stock’s premium valuation and dependence on two large customers leave limited room for execution setbacks. Credo valuation and customer concentration article
• Negative Sentiment: CRDO declined alongside AI infrastructure peers, including Astera Labs, in what appears to be sector-wide profit-taking rather than a newly reported deterioration in Credo’s operations. The decline highlights the stock’s elevated volatility and sensitivity to AI spending sentiment. Credo stock decline analysis
• Negative Sentiment: CTO Chi Cheng sold 31,290 shares, while CFO Daniel Fleming previously sold 7,580 shares; both transactions were conducted under pre-arranged Rule 10b5-1 plans. The sales were modest relative to their remaining holdings but may still weigh on sentiment.

Institutional Investors Weigh In On Credo Technology Group

Several large investors have recently modified their holdings of CRDO. Mather Group LLC. boosted its stake in Credo Technology Group by 16.8% in the third quarter. Mather Group LLC. now owns 3,922 shares of the company’s stock worth $764,000 after purchasing an additional 564 shares in the last quarter. Hudock Inc. increased its stake in shares of Credo Technology Group by 2.8% in the third quarter. Hudock Inc. now owns 4,317 shares of the company’s stock valued at $841,000 after buying an additional 119 shares in the last quarter. Elemental Capital Partners LLC increased its stake in shares of Credo Technology Group by 1.9% in the third quarter. Elemental Capital Partners LLC now owns 237,658 shares of the company’s stock valued at $46,293,000 after buying an additional 4,520 shares in the last quarter. Triumph Capital Management raised its holdings in shares of Credo Technology Group by 151.0% in the third quarter. Triumph Capital Management now owns 7,185 shares of the company’s stock valued at $1,400,000 after buying an additional 4,323 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in shares of Credo Technology Group in the third quarter valued at about $363,000. 80.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRDO has been the topic of several analyst reports. Barclays boosted their price target on shares of Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. TD Cowen raised their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Susquehanna raised their price objective on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.67.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.