Credo Technology Group (NASDAQ:CRDO) CFO Daniel Fleming Sells 40,000 Shares

Key Points

• Credo Technology Group CFO Daniel Fleming sold 40,000 shares on June 11 at an average price of $249.48, for about $9.98 million. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity award vesting.
• The stock was trading higher, up 3.4% to $259.41, near its 52-week high of $270.21. Trading volume was slightly above average, and the company now carries a market cap of about $47.85 billion.
• Credo’s fundamentals remain strong after its latest earnings beat, with quarterly EPS of $1.16 versus the $1.02 consensus and revenue up 157% year over year to $437 million. Analysts remain broadly bullish, with several recent price target increases and a consensus target of $248.41.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CFO Daniel Fleming sold 40,000 shares of Credo Technology Group stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the sale, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. The trade was a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

Credo Technology Group Trading Up 3.4%

NASDAQ:CRDO traded up $8.60 during midday trading on Monday, hitting $259.41. 7,894,691 shares of the company traded hands, compared to its average volume of 7,530,330. The firm's fifty day moving average is $184.46 and its 200-day moving average is $150.79. The firm has a market capitalization of $47.85 billion, a P/E ratio of 104.60, a P/E/G ratio of 1.32 and a beta of 3.22. Credo Technology Group Holding Ltd. has a 12-month low of $75.50 and a 12-month high of $270.21.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $431.80 million. During the same quarter last year, the firm earned $0.20 earnings per share. The firm's quarterly revenue was up 157.0% compared to the same quarter last year. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Key Credo Technology Group News

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

• Positive Sentiment: Credo’s latest results showed strong revenue and earnings growth, and management’s guidance points to continued momentum, which is supporting investor confidence. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal - What's Changed
• Positive Sentiment: Analysts highlighted Credo’s exposure to the AI interconnect upgrade cycle, with copper, optical, and scale-up networking products positioned to address data-center bottlenecks. Credo Technology Rides the AI Interconnect Upgrade Cycle
• Positive Sentiment: Credo’s AI connectivity story is expanding into optical products, which could widen the addressable market if customer ramps continue and margins hold up. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Neutral Sentiment: Several articles framed CRDO as a momentum stock after a large run-up, suggesting investor enthusiasm remains high but valuation is now a bigger part of the debate. Credo Technology Group Holding Ltd. (CRDO) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: One report said Credo still looks worth watching despite a rich valuation because earnings growth, revisions, margins, and cash flow remain supportive. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?
• Negative Sentiment: Investors may also be weighing insider selling by the CTO, which can create concern even when the business fundamentals are strong. Insider Selling: Credo Technology Group NASDAQ: CRDO CTO Sells $7,137,075.00 in Stock

Analysts Set New Price Targets

A number of brokerages have commented on CRDO. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 19th. Bank of America raised their target price on Credo Technology Group from $210.00 to $252.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $250.00 price target on shares of Credo Technology Group in a report on Tuesday, June 2nd. Needham & Company LLC increased their price target on Credo Technology Group from $220.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Finally, Roth Mkm increased their target price on Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $248.41.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crewe Advisors LLC boosted its holdings in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after acquiring an additional 106 shares during the period. Reflection Asset Management purchased a new position in shares of Credo Technology Group during the fourth quarter worth about $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group in the 4th quarter worth $25,000. Flagship Harbor Advisors LLC acquired a new position in shares of Credo Technology Group during the 4th quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter valued at approximately $36,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

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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