Credo Technology Group (NASDAQ:CRDO) Director Sylvia Acevedo Sells 2,208 Shares

Key Points

• Director Sylvia Acevedo sold 2,208 shares of Credo Technology Group at an average price of $211, for proceeds of about $465,888. After the sale, she still owned 16,337 shares worth roughly $3.45 million.
• CRDO shares jumped 5.4% to $234.32, trading near their 52-week high and far above both the 50-day and 200-day moving averages. The stock has been boosted by strong recent momentum and heavy trading volume.
• The company posted a strong quarterly beat, reporting EPS of $1.16 versus $1.02 expected and revenue of $437 million versus $431.8 million forecast. Revenue rose 157% year over year, and analysts remain broadly bullish with a consensus “Moderate Buy” rating.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) Director Sylvia Acevedo sold 2,208 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the transaction, the director owned 16,337 shares of the company's stock, valued at approximately $3,447,107. The trade was a 11.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Credo Technology Group Stock Up 5.4%

CRDO traded up $12.05 during trading on Tuesday, hitting $234.32. 15,582,389 shares of the company traded hands, compared to its average volume of 7,402,494. The firm has a market cap of $43.22 billion, a P/E ratio of 94.48, a price-to-earnings-growth ratio of 1.34 and a beta of 3.22. The stock's fifty day moving average is $172.17 and its 200 day moving average is $147.79. Credo Technology Group Holding Ltd. has a one year low of $66.75 and a one year high of $252.70.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. The company had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The firm's revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new stake in shares of Credo Technology Group in the third quarter worth about $25,000. Crewe Advisors LLC lifted its holdings in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company's stock worth $25,000 after buying an additional 106 shares in the last quarter. Reflection Asset Management purchased a new stake in shares of Credo Technology Group in the fourth quarter worth about $25,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter worth about $25,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter worth about $32,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRDO. Stifel Nicolaus set a $250.00 price objective on shares of Credo Technology Group in a report on Wednesday, May 27th. Roth Mkm upped their price objective on shares of Credo Technology Group from $200.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $250.00 price objective on shares of Credo Technology Group in a report on Tuesday, June 2nd. Bank of America upped their price objective on shares of Credo Technology Group from $210.00 to $252.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Finally, Craig Hallum reaffirmed a "buy" rating and set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Credo Technology Group currently has a consensus rating of "Moderate Buy" and an average target price of $248.41.

Key Credo Technology Group News

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

• Positive Sentiment: Credo has been one of the best-performing semiconductor names recently, with the stock rising sharply over the past three months as AI infrastructure demand continues to support growth and investor enthusiasm. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Traders bought unusually large volumes of CRDO call options, suggesting bullish sentiment and expectations for continued strength in the shares.
• Positive Sentiment: The company recently reported quarterly results that beat analyst expectations on both earnings and revenue, with revenue up sharply year over year, reinforcing the growth narrative behind the stock.
• Neutral Sentiment: A large insider sale by Director Sylvia Acevedo may be viewed as routine profit-taking, but it can still catch investors' attention because it reduces her stake in the company.
• Neutral Sentiment: CEO William Joseph Brennan also sold shares, which likewise may be interpreted as insider selling after a strong run in the stock, though it does not necessarily indicate a change in the business outlook.

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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