Insider Selling: Credo Technology Group (NASDAQ:CRDO) CEO Sells 50,000 Shares of Stock

Key Points

• CEO William Joseph Brennan sold 50,000 shares on March 11 at an average price of $117.68 for proceeds of $5.884 million, leaving him with 1,782,502 shares (a 2.73% reduction in his stake).
• Brennan has executed multiple insider sales this year (including 50,000 shares on Jan. 29 at $127.69 and several smaller blocks), signaling sustained insider selling activity.
• Credo reported a strong quarter—EPS $1.07 vs. $0.78 est. and revenue $407M, up 201.5% year‑over‑year—and analysts maintain a consensus "Buy" with a $206.33 average price target despite the stock trading around $117.69.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the completion of the transaction, the chief executive officer owned 1,782,502 shares of the company's stock, valued at $209,764,835.36. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

William Joseph Brennan also recently made the following trade(s):

• On Wednesday, March 11th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The stock was sold at an average price of $117.68, for a total value of $2,120,122.88.
• On Thursday, January 29th, William Joseph Brennan sold 50,000 shares of Credo Technology Group stock. The stock was sold at an average price of $127.69, for a total value of $6,384,500.00.
• On Thursday, January 29th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The shares were sold at an average price of $127.69, for a total value of $2,300,463.04.
• On Thursday, January 8th, William Joseph Brennan sold 9,476 shares of Credo Technology Group stock. The stock was sold at an average price of $139.54, for a total value of $1,322,281.04.
• On Wednesday, January 7th, William Joseph Brennan sold 10,456 shares of Credo Technology Group stock. The stock was sold at an average price of $135.03, for a total value of $1,411,873.68.

Credo Technology Group Price Performance

CRDO stock traded up $6.12 during mid-day trading on Friday, reaching $117.69. 4,456,006 shares of the company traded hands, compared to its average volume of 7,128,742. The company has a fifty day moving average price of $127.26 and a 200-day moving average price of $143.02. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $213.80. The company has a market capitalization of $21.71 billion, a P/E ratio of 65.38 and a beta of 2.67.

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. The company had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. Credo Technology Group's revenue was up 201.5% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. As a group, analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group set a $165.00 price objective on Credo Technology Group and gave the stock a "buy" rating in a research report on Thursday, February 19th. Craig Hallum reiterated a "buy" rating and set a $200.00 price target on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Wolfe Research set a $240.00 price objective on shares of Credo Technology Group in a report on Tuesday, December 2nd. Stifel Nicolaus set a $200.00 price objective on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Finally, New Street Research set a $240.00 target price on shares of Credo Technology Group in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $206.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRDO. NewEdge Advisors LLC raised its holdings in shares of Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company's stock valued at $284,000 after acquiring an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company's stock valued at $61,235,000 after purchasing an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Credo Technology Group by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company's stock worth $12,480,000 after purchasing an additional 7,107 shares in the last quarter. Atria Investments Inc bought a new position in Credo Technology Group in the 2nd quarter worth $239,000. Finally, Savant Capital LLC purchased a new stake in shares of Credo Technology Group in the 2nd quarter worth about $912,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

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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