Insider Selling: Credo Technology Group (NASDAQ:CRDO) COO Sells 70,000 Shares of Stock

Key Points

• Yat Tung Lam, COO of Credo Technology Group, sold 70,000 shares of stock for approximately $9.62 million, reducing his ownership by 7.61% to a total of 850,000 shares.
• Credo Technology Group's stock recently saw a 3.0% increase in trading, reaching $155.55 with a market capitalization of $26.91 billion.
• The company reported earnings of $0.34 EPS for the last quarter, missing expectations slightly while also achieving a significant 273.6% increase in revenue year-over-year.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) COO Yat Tung Lam sold 70,000 shares of the firm's stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $137.49, for a total value of $9,624,300.00. Following the sale, the chief operating officer directly owned 850,000 shares in the company, valued at $116,866,500. This trade represents a 7.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Yat Tung Lam also recently made the following trade(s):

• On Wednesday, October 1st, Yat Tung Lam sold 80,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00.

Credo Technology Group Stock Up 3.0%

CRDO traded up $4.58 during trading on Friday, hitting $155.55. 6,038,555 shares of the stock were exchanged, compared to its average volume of 5,396,042. The firm has a market capitalization of $26.91 billion, a P/E ratio of 232.16 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 1-year low of $29.09 and a 1-year high of $176.70. The stock has a fifty day moving average price of $140.83 and a two-hundred day moving average price of $97.74.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same period last year, the firm earned $0.04 EPS. The company's quarterly revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Cowen reiterated a "buy" rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research note on Wednesday, October 1st. TD Cowen assumed coverage on Credo Technology Group in a research note on Wednesday, October 1st. They issued a "buy" rating and a $170.00 target price on the stock. Mizuho lifted their target price on Credo Technology Group from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Finally, William Blair assumed coverage on Credo Technology Group in a research note on Thursday, September 18th. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $140.36.

Institutional Trading of Credo Technology Group

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Credo Technology Group by 6.7% during the third quarter. GAMMA Investing LLC now owns 1,891 shares of the company's stock worth $275,000 after purchasing an additional 118 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Credo Technology Group by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company's stock worth $341,000 after acquiring an additional 126 shares during the last quarter. Blue Trust Inc. increased its position in Credo Technology Group by 3.9% during the 2nd quarter. Blue Trust Inc. now owns 4,108 shares of the company's stock worth $380,000 after purchasing an additional 154 shares in the last quarter. Signaturefd LLC increased its position in Credo Technology Group by 32.4% during the 2nd quarter. Signaturefd LLC now owns 703 shares of the company's stock worth $65,000 after purchasing an additional 172 shares in the last quarter. Finally, Main Management ETF Advisors LLC raised its stake in Credo Technology Group by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company's stock valued at $1,086,000 after purchasing an additional 192 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.

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