Insider Selling: Credo Technology Group (NASDAQ:CRDO) Director Sells 1,875 Shares of Stock

Key Points

• Director Pantas Sutardja sold 1,875 shares on Jan. 30 at an average price of $128.67 for about $241,256, leaving him with 5,892,034 shares (≈$758.1M) — a 0.03% reduction in ownership disclosed in an SEC filing.
• CRDO traded down to $119.96 midday on Monday with ~5.44M shares changing hands; the stock has a $21.67B market cap, a P/E of 105.23, and a 52‑week range of $29.09–$213.80, below its 50‑day ($150.50) and 200‑day ($142.12) averages.
• Credo beat expectations last quarter with EPS of $0.67 versus $0.49 expected and revenue of $268.0M (up 272% YoY); analysts’ consensus is a "Buy" with an average price target of $216.54.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $128.67, for a total value of $241,256.25. Following the sale, the director directly owned 5,892,034 shares in the company, valued at approximately $758,128,014.78. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Credo Technology Group Price Performance

CRDO stock traded down $5.32 during midday trading on Monday, hitting $119.96. The stock had a trading volume of 5,444,885 shares, compared to its average volume of 6,138,007. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 105.23 and a beta of 2.65. The business has a 50-day moving average of $150.50 and a two-hundred day moving average of $142.12. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $213.80.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, December 1st. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.49 by $0.18. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The business had revenue of $268.03 million during the quarter, compared to analyst estimates of $234.99 million. During the same quarter last year, the firm posted $0.07 earnings per share. The company's revenue for the quarter was up 272.1% on a year-over-year basis. Research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. California Public Employees Retirement System raised its stake in Credo Technology Group by 17.2% during the 2nd quarter. California Public Employees Retirement System now owns 257,567 shares of the company's stock valued at $23,848,000 after purchasing an additional 37,772 shares during the period. Estate Counselors LLC purchased a new stake in Credo Technology Group during the 3rd quarter valued at approximately $2,548,000. Global Trust Asset Management LLC bought a new stake in shares of Credo Technology Group during the third quarter valued at approximately $2,167,000. EFG Asset Management North America Corp. lifted its holdings in shares of Credo Technology Group by 76.5% in the third quarter. EFG Asset Management North America Corp. now owns 21,976 shares of the company's stock worth $3,200,000 after buying an additional 9,527 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Credo Technology Group by 34.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,400 shares of the company's stock worth $4,135,000 after acquiring an additional 7,300 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRDO. Wolfe Research set a $240.00 price target on shares of Credo Technology Group in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. started coverage on shares of Credo Technology Group in a research report on Friday, October 17th. They issued an "overweight" rating and a $165.00 target price for the company. TD Cowen reissued a "buy" rating on shares of Credo Technology Group in a report on Tuesday, December 2nd. Zacks Research raised Credo Technology Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, December 4th. Finally, New Street Research set a $240.00 price target on shares of Credo Technology Group in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $216.54.

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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