Credo Technology Group (NASDAQ:CRDO) CTO Chi Fung Cheng Sells 55,000 Shares

Key Points

• Chi Fung Cheng, CTO of Credo Technology Group, sold 55,000 shares at an average price of $148.35, totaling over $8.15 million, reducing his ownership stake by 0.80%.
• Credo Technology's stock recently traded down to $137.20, with a market cap of $23.74 billion and a year-over-year revenue increase of 273.6%.
• Equities analysts have a generally positive outlook on Credo Technology Group, with several price target increases, including a new target of $160.00 from Stifel Nicolaus.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $148.35, for a total transaction of $8,159,250.00. Following the transaction, the chief technology officer owned 6,833,961 shares of the company's stock, valued at $1,013,818,114.35. The trade was a 0.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 29th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $148.87, for a total transaction of $8,187,850.00.
• On Monday, September 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $164.98, for a total transaction of $9,073,900.00.
• On Monday, September 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $163.98, for a total value of $9,018,900.00.
• On Monday, September 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $146.21, for a total value of $8,041,550.00.
• On Friday, August 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $107.12, for a total value of $5,891,600.00.
• On Monday, July 28th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $105.80, for a total value of $5,819,000.00.
• On Monday, July 21st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $96.54, for a total value of $5,309,700.00.
• On Monday, July 14th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $98.53, for a total transaction of $5,419,150.00.

Credo Technology Group Stock Performance

CRDO traded down $10.22 during trading on Tuesday, reaching $137.20. 8,379,700 shares of the stock were exchanged, compared to its average volume of 5,321,652. The stock's 50 day moving average price is $133.99 and its two-hundred day moving average price is $89.37. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70. The stock has a market cap of $23.74 billion, a P/E ratio of 204.78 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of $223.07 million during the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business's revenue was up 273.6% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cullen Investment Group LTD. boosted its position in shares of Credo Technology Group by 39.9% during the 3rd quarter. Cullen Investment Group LTD. now owns 6,602 shares of the company's stock worth $950,000 after acquiring an additional 1,882 shares in the last quarter. GAMMA Investing LLC lifted its stake in Credo Technology Group by 6.7% during the third quarter. GAMMA Investing LLC now owns 1,891 shares of the company's stock worth $275,000 after purchasing an additional 118 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Credo Technology Group in the 2nd quarter valued at $1,296,000. Orion Porfolio Solutions LLC bought a new position in shares of Credo Technology Group in the 2nd quarter valued at $663,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Credo Technology Group by 5.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 35,225 shares of the company's stock worth $3,261,000 after buying an additional 1,812 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRDO shares. Mizuho upped their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Stifel Nicolaus set a $160.00 price target on shares of Credo Technology Group in a report on Wednesday, October 1st. Wall Street Zen upgraded shares of Credo Technology Group from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Credo Technology Group in a research report on Saturday, September 27th. Finally, Roth Capital restated a "buy" rating and issued a $170.00 price target on shares of Credo Technology Group in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $128.55.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.

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