Credo Technology Group (NASDAQ:CRDO) CTO Sells $5,170,550.00 in Stock

Key Points

• CTO Chi Fung Cheng sold $5,170,550 worth of Credo stock (27,500 shares) on April 22 at $188.02 as part of a series of recent dispositions executed under a pre‑arranged Rule 10b5‑1 trading plan; he still directly owns 6,079,870 shares (ownership down 0.45%).
• Credo reported strong quarterly results with $1.07 EPS (vs. $0.78 consensus) and $407.01 million revenue, a 201.5% year‑over‑year increase, alongside robust margins and return on equity.
• Shares traded up 5.1% to $194.98 with a market cap near $35.96 billion and a 52‑week high of $213.80; analysts hold a consensus "Moderate Buy" rating with an average price target of about $207.81.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $188.02, for a total transaction of $5,170,550.00. Following the transaction, the chief technology officer directly owned 6,079,870 shares in the company, valued at $1,143,137,157.40. This represents a 0.45% decrease in their ownership of the stock. The transaction 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 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 transaction 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 transaction 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 transaction of $2,837,725.00.
• On Sunday, April 5th, Chi Fung Cheng sold 2,434 shares of Credo Technology Group stock. The stock was sold at an average price of $101.45, for a total transaction of $246,929.30.
• On Tuesday, March 31st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $91.28, for a total transaction of $2,510,200.00.
• On Tuesday, March 24th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $100.67, for a total transaction of $2,768,425.00.
• On Tuesday, March 17th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $107.90, for a total transaction of $2,967,250.00.
• On Wednesday, March 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $117.60, for a total transaction of $3,234,000.00.
• On Thursday, January 29th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $127.37, for a total transaction of $3,502,675.00.

Credo Technology Group Trading Up 5.1%

Shares of NASDAQ:CRDO traded up $9.44 during midday trading on Friday, reaching $194.98. The company had a trading volume of 5,199,128 shares, compared to its average volume of 7,281,542. The company's 50 day moving average price is $120.68 and its 200 day moving average price is $138.33. The stock has a market cap of $35.96 billion, a P/E ratio of 108.32 and a beta of 2.72. Credo Technology Group Holding Ltd. has a 52-week low of $40.17 and a 52-week high of $213.80.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRDO. Weiss Ratings restated a "hold (c)" rating on shares of Credo Technology Group in a research report on Friday, March 27th. Craig Hallum restated a "buy" rating and issued a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Rosenblatt Securities upped their price objective on shares of Credo Technology Group from $125.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. Barclays restated an "overweight" rating and issued a $260.00 price objective on shares of Credo Technology Group in a research report on Thursday, January 15th. Finally, Mizuho decreased their price objective on shares of Credo Technology Group from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of "Moderate Buy" and an average price target of $207.81.

Institutional Trading of Credo Technology Group

A number of institutional investors have recently made changes to their positions in CRDO. Corient Private Wealth LLC boosted its stake in shares of Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company's stock valued at $517,835,000 after purchasing an additional 3,597,318 shares during the period. Amundi boosted its stake in shares of Credo Technology Group by 28,478.2% during the fourth quarter. Amundi now owns 1,559,796 shares of the company's stock valued at $224,439,000 after purchasing an additional 1,554,338 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Credo Technology Group by 841.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company's stock valued at $228,979,000 after purchasing an additional 1,422,391 shares during the period. Bank of America Corp DE boosted its stake in shares of Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company's stock valued at $331,710,000 after purchasing an additional 1,406,752 shares during the period. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Credo Technology Group during the third quarter valued at approximately $183,553,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

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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