Credo Technology Group (NASDAQ:CRDO) CTO Sells $4,931,575.00 in Stock

Key Points

• Credo CTO Chi Fung Cheng sold 27,500 shares on April 27 under a Rule 10b5-1 plan for about $4.93 million, and still holds 6,052,370 shares (a ~0.45% ownership decline) valued at roughly $1.09 billion.
• Cheng has executed multiple block sales since late January, totaling more than $35 million of stock disposals across March–April, indicating sustained insider selling activity.
• Credo recently reported strong results—Q1 EPS $1.07 vs. $0.78 expected and revenue up 201.5% YoY to $407.0 million—and trades around $175.77 with a market cap near $32.4 billion and a consensus analyst rating of "Moderate Buy" (target ~$207.81).

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 Monday, April 27th. The stock was sold at an average price of $179.33, for a total value of $4,931,575.00. Following the transaction, the chief technology officer owned 6,052,370 shares in the company, valued at approximately $1,085,371,512.10. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 22nd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $188.02, for a total value of $5,170,550.00.
• On Thursday, April 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $157.58, for a total value of $4,333,450.00.
• On Friday, April 10th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was 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 shares were 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 shares were 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 shares were sold at an average price of $107.90, for a total value of $2,967,250.00.
• On Wednesday, March 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $117.60, for a total value of $3,234,000.00.
• On Thursday, January 29th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $127.37, for a total value of $3,502,675.00.

Credo Technology Group Price Performance

CRDO traded up $9.85 during trading hours on Wednesday, reaching $175.77. The company's stock had a trading volume of 4,289,346 shares, compared to its average volume of 7,249,749. Credo Technology Group Holding Ltd. has a fifty-two week low of $40.17 and a fifty-two week high of $213.80. The stock has a market cap of $32.42 billion, a PE ratio of 97.65 and a beta of 2.72. The business's 50-day moving average is $124.16 and its 200-day moving average is $138.99.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm had revenue of $407.01 million for the quarter, compared to analysts' expectations of $385.94 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm's quarterly revenue was up 201.5% on a year-over-year basis. Analysts expect that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRDO. Jefferies Financial Group began coverage on Credo Technology Group in a research report on Monday, April 13th. They issued a "buy" rating and a $175.00 target price on the stock. Zacks Research lowered Credo Technology Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. The Goldman Sachs Group boosted their target price on Credo Technology Group from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Weiss Ratings lowered Credo Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday. Finally, Rosenblatt Securities boosted their target price on Credo Technology Group from $125.00 to $175.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.81.

Institutional Trading of Credo Technology Group

A number of large investors have recently modified their holdings of the stock. Savant Capital LLC increased its position in shares of Credo Technology Group by 0.7% during the third quarter. Savant Capital LLC now owns 9,914 shares of the company's stock worth $1,444,000 after acquiring an additional 68 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Credo Technology Group by 16.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock worth $80,000 after acquiring an additional 77 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Credo Technology Group by 0.6% during the third quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company's stock worth $2,298,000 after acquiring an additional 91 shares during the period. QRG Capital Management Inc. increased its position in shares of Credo Technology Group by 1.7% during the first quarter. QRG Capital Management Inc. now owns 5,402 shares of the company's stock worth $507,000 after acquiring an additional 91 shares during the period. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Credo Technology Group by 2.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 5,150 shares of the company's stock worth $741,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

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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