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

Key Points

• CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group on June 5 at an average price of $218.57, totaling about $12.0 million. After the sale, he still held 367,327 shares, and the transaction cut his position by 13.02%.
• Credo’s stock has been surging, rising 5.4% in Tuesday trading to $234.32 and approaching its 52-week high of $252.70. Trading volume was also well above average, reflecting strong investor interest.
• The company just posted strong quarterly results, with earnings of $1.16 per share beating estimates and revenue of $437 million, up 157% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $248.41.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. This represents a 13.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $117.68, for a total transaction of $2,120,122.88.

Credo Technology Group Stock Up 5.4%

NASDAQ:CRDO traded up $12.05 during trading hours on Tuesday, hitting $234.32. 15,582,389 shares of the stock traded hands, compared to its average volume of 7,402,494. Credo Technology Group Holding Ltd. has a 1 year low of $66.75 and a 1 year high of $252.70. The company has a market cap of $43.22 billion, a price-to-earnings ratio of 94.48, a price-to-earnings-growth ratio of 1.34 and a beta of 3.22. The stock has a 50 day moving average price of $172.17 and a 200 day moving average price of $147.79.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $431.80 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The company's revenue for the quarter was up 157.0% on a year-over-year basis. Equities analysts forecast that Credo Technology Group Holding Ltd. will post 3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Credo Technology Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in shares of Credo Technology Group by 24.1% during the first quarter. NewEdge Advisors LLC now owns 5,883 shares of the company's stock valued at $552,000 after buying an additional 1,141 shares during the last quarter. Glenmede Trust Co. NA increased its position in Credo Technology Group by 2.0% in the first quarter. Glenmede Trust Co. NA now owns 5,706 shares of the company's stock worth $536,000 after purchasing an additional 114 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Credo Technology Group by 12.7% in the first quarter. Segall Bryant & Hamill LLC now owns 111,621 shares of the company's stock worth $10,478,000 after purchasing an additional 12,616 shares during the last quarter. Verus Capital Partners LLC bought a new stake in Credo Technology Group in the first quarter worth $506,000. Finally, Western Wealth Management LLC purchased a new position in shares of Credo Technology Group in the 1st quarter worth $38,000. Institutional investors own 80.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Zacks Research raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Bank of America lifted their price objective on shares of Credo Technology Group from $210.00 to $252.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. TD Cowen lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Credo Technology Group from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $250.00 price objective on shares of Credo Technology Group in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $248.41.

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.

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.

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