Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $148.08, for a total value of $8,144,400.00. Following the transaction, the chief technology officer directly owned 6,778,961 shares in the company, valued at approximately $1,003,828,544.88. This represents a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Chi Fung Cheng also recently made the following trade(s):
- On Monday, October 6th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $148.35, for a total value of $8,159,250.00.
- 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 value 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 value of $9,073,900.00.
- On Monday, September 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $96.54, for a total value of $5,309,700.00.
Credo Technology Group Price Performance
CRDO traded up $1.66 during trading on Wednesday, hitting $131.41. The company's stock had a trading volume of 6,220,555 shares, compared to its average volume of 5,374,544. The firm's 50 day moving average price is $137.72 and its 200-day moving average price is $93.11. The stock has a market cap of $22.73 billion, a PE ratio of 196.13 and a beta of 2.60. Credo Technology Group Holding Ltd. has a twelve month low of $29.09 and a twelve month high of $176.70.
Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million for the quarter, compared to analysts' expectations of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm's quarterly revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Credo Technology Group by 6.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,891 shares of the company's stock worth $275,000 after buying an additional 118 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Credo Technology Group by 3.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company's stock valued at $341,000 after purchasing an additional 126 shares during the period. Blue Trust Inc. boosted its holdings in shares of Credo Technology Group by 3.9% in the second quarter. Blue Trust Inc. now owns 4,108 shares of the company's stock valued at $380,000 after buying an additional 154 shares during the period. Signaturefd LLC boosted its holdings in Credo Technology Group by 32.4% during the second quarter. Signaturefd LLC now owns 703 shares of the company's stock worth $65,000 after purchasing an additional 172 shares during the last quarter. Finally, Main Management ETF Advisors LLC boosted its holdings in Credo Technology Group by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company's stock worth $1,086,000 after purchasing an additional 192 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
CRDO has been the topic of several research reports. Needham & Company LLC increased their price objective on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Mizuho increased their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Roth Capital restated a "buy" rating and issued a $170.00 target price on shares of Credo Technology Group in a research report on Tuesday, September 30th. William Blair assumed coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They issued an "outperform" rating for the company. Finally, Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $128.55.
Get Our Latest Report on CRDO
About Credo Technology Group
(
Get Free Report)
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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