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

Key Points

• Credo Technology Group CTO Chi Fung Cheng sold 27,500 shares on June 11 at an average price of $259.53, totaling about $7.14 million, under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vesting equity awards.
• The stock climbed 11.4% to $264.76, near its 52-week high of $268.18, reflecting strong recent momentum alongside a market cap of about $48.8 billion.
• Credo reported better-than-expected fiscal Q1 results, including EPS of $1.16 on revenue of $437 million, while analysts remain broadly bullish with multiple price target hikes and a consensus rating of Moderate Buy.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 27,500 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $259.53, for a total transaction of $7,137,075.00. Following the completion of the transaction, the chief technology officer owned 5,992,370 shares in the company, valued at $1,555,199,786.10. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

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

• On Friday, May 1st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $178.99, for a total transaction of $4,922,225.00.
• On Monday, April 27th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $179.33, for a total transaction of $4,931,575.00.
• On Wednesday, April 22nd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $188.02, for a total transaction of $5,170,550.00.
• On Thursday, April 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $157.58, for a total transaction of $4,333,450.00.
• On Friday, April 10th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $118.25, for a total value of $3,251,875.00.
• On Monday, April 6th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $103.19, for a total value of $2,837,725.00.
• On Sunday, April 5th, Chi Fung Cheng sold 2,434 shares of Credo Technology Group stock. The shares were sold at an average price of $101.45, for a total value of $246,929.30.
• On Tuesday, March 31st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $91.28, for a total value of $2,510,200.00.
• On Tuesday, March 24th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $100.67, for a total value of $2,768,425.00.
• On Tuesday, March 17th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $107.90, for a total value of $2,967,250.00.

Credo Technology Group Trading Up 11.4%

Shares of CRDO traded up $27.08 during midday trading on Thursday, reaching $264.76. 12,956,584 shares of the stock were exchanged, compared to its average volume of 7,513,125. Credo Technology Group Holding Ltd. has a 52 week low of $70.78 and a 52 week high of $268.18. The company's 50 day moving average is $177.95 and its two-hundred day moving average is $149.16. The company has a market capitalization of $48.83 billion, a P/E ratio of 106.76, a PEG ratio of 1.23 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The company had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same quarter last year, the company earned $0.20 earnings per share. The firm's revenue for the quarter was up 157.0% compared to the same quarter last year. On average, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently modified their holdings of CRDO. Corient Private Wealth LLC increased its stake in shares of Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company's stock worth $517,835,000 after purchasing an additional 3,597,318 shares during the period. Amundi boosted its holdings in Credo Technology Group by 28,478.2% during the fourth quarter. Amundi now owns 1,559,796 shares of the company's stock valued at $224,439,000 after purchasing an additional 1,554,338 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Credo Technology Group by 841.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company's stock worth $228,979,000 after acquiring an additional 1,422,391 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock worth $331,710,000 after purchasing an additional 1,406,752 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in Credo Technology Group during the 3rd quarter worth about $183,553,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo’s AI connectivity business posted record fiscal 2026 revenue, and analysts see further upside from an expected optical-product growth inflection in fiscal 2027.
• Positive Sentiment: Mizuho raised its price target on Credo Technology Group NASDAQ: CRDO, reinforcing Wall Street’s increasingly bullish view after recent earnings.
• Positive Sentiment: The announced acquisition of Dust Photonics expands Credo into silicon photonics and optical connectivity, which could strengthen its position in AI infrastructure.
• Positive Sentiment: Recent commentary highlighted strong earnings revisions and bullish thesis articles, suggesting investors are betting on continued growth momentum.
• Neutral Sentiment: Some analysis pointed to customer concentration risk, but also said diversification into neo clouds and broader customers could gradually reduce that concern.
• Negative Sentiment: Director Sylvia Acevedo sold shares recently, a development that may slightly pressure sentiment even though it does not necessarily change the long-term outlook.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a "buy" rating and set a $250.00 target price on shares of Credo Technology Group in a report on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their target price on Credo Technology Group from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, June 2nd. Susquehanna boosted their price objective on Credo Technology Group from $200.00 to $235.00 and gave the stock a "positive" rating in a research note on Tuesday, June 2nd. Weiss Ratings upgraded Credo Technology Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group boosted their price target on Credo Technology Group from $225.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of "Moderate Buy" and an average price target of $248.41.

Credo Technology Group Company Profile

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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