Credo Technology Group (NASDAQ:CRDO) Trading Down 7.5% Following Insider Selling

Key Points

• Shares fell 7.5% after CTO Chi Fung Cheng sold 27,500 shares under a pre‑arranged Rule 10b5‑1 plan at an average of $188.02 (≈$5.17M); the stock traded as low as $176.40 and last at $180.50 on ~6.76M shares (about 7% below average volume).
• Analysts show a consensus “Moderate Buy” with an average target of $207.81 amid mixed upgrades/downgrades, while Credo recently reported an earnings beat — $1.07 EPS vs. $0.78 estimate and $407M revenue, up 201.5% year‑over‑year.

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) fell 7.5% during trading on Monday after an insider sold shares in the company. The company traded as low as $176.40 and last traded at $180.50. 6,763,184 shares were traded during trading, a decline of 7% from the average session volume of 7,298,293 shares. The stock had previously closed at $195.04.

Specifically, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $188.02, for a total transaction of $5,170,550.00. Following the sale, the chief technology officer directly owned 6,079,870 shares in the company, valued at $1,143,137,157.40. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRDO. Roth Mkm cut their target price on shares of Credo Technology Group from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Rosenblatt Securities lifted their target price 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. The Goldman Sachs Group boosted their price target on shares of Credo Technology Group from $150.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Weiss Ratings lowered shares of Credo Technology Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday. Finally, Zacks Research cut shares of Credo Technology Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. One research 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, Credo Technology Group presently has an average rating of "Moderate Buy" and an average target price of $207.81.

Credo Technology Group Stock Down 7.5%

The business's 50 day moving average is $122.15 and its two-hundred day moving average is $138.60. The firm has a market cap of $33.29 billion, a P/E ratio of 100.28 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its 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. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The business had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. During the same quarter last year, the firm earned $0.25 earnings per share. Credo Technology Group's quarterly revenue was up 201.5% on a year-over-year basis. Equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CRDO. Atlantic Union Bankshares Corp acquired a new position in shares of Credo Technology Group during the 3rd quarter valued at $25,000. Crewe Advisors LLC lifted its position in shares of Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company's stock valued at $25,000 after acquiring an additional 106 shares during the period. Reflection Asset Management acquired a new position in shares of Credo Technology Group during the 4th quarter valued at $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group during the 4th quarter valued at $25,000. Finally, First Horizon Corp acquired a new position in shares of Credo Technology Group during the 3rd quarter valued at $26,000. Institutional investors and hedge funds 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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