William Joseph Brennan Sells 9,476 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Key Points

• William Joseph Brennan, CEO of Credo Technology Group, sold 9,476 shares at an average price of $140.06, totaling approximately $1.33 million, resulting in a 2.66% decrease in his ownership.
• Credo Technology Group's shares are currently trading at $151.15 with a market cap of $26.15 billion; the company reported a 273.6% increase in quarterly revenue year-over-year.
• Institutional investors are increasingly investing in Credo Technology Group, with Vanguard and JPMorgan Chase both significantly increasing their stakes in the company over the last quarter.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) CEO William Joseph Brennan sold 9,476 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $140.06, for a total transaction of $1,327,208.56. Following the transaction, the chief executive officer directly owned 347,399 shares of the company's stock, valued at $48,656,703.94. This represents a 2.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, September 16th, William Joseph Brennan sold 50,000 shares of Credo Technology Group stock. The shares were sold at an average price of $164.11, for a total transaction of $8,205,500.00.
• On Tuesday, September 16th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The shares were sold at an average price of $164.11, for a total transaction of $2,956,605.76.
• On Friday, August 1st, William Joseph Brennan sold 150,000 shares of Credo Technology Group stock. The shares were sold at an average price of $106.87, for a total transaction of $16,030,500.00.
• On Friday, August 1st, William Joseph Brennan sold 46,444 shares of Credo Technology Group stock. The shares were sold at an average price of $106.87, for a total transaction of $4,963,470.28.

Credo Technology Group Trading Up 1.5%

Shares of CRDO traded up $2.28 during trading hours on Thursday, reaching $151.15. 5,504,137 shares of the stock traded hands, compared to its average volume of 5,329,910. The company has a market cap of $26.15 billion, a P/E ratio of 225.60 and a beta of 2.60. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $176.70. The company's 50-day moving average price is $135.21 and its two-hundred day moving average price is $90.11.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced 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 company had revenue of $223.07 million during the quarter, compared to analysts' expectations of $190.63 million. During the same quarter in the previous year, the firm earned $0.04 EPS. The firm's revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRDO. Vanguard Group Inc. grew its position in shares of Credo Technology Group by 2.7% in the second quarter. Vanguard Group Inc. now owns 16,375,368 shares of the company's stock valued at $1,516,195,000 after purchasing an additional 430,445 shares during the period. JPMorgan Chase & Co. grew its position in shares of Credo Technology Group by 36.5% in the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company's stock valued at $602,662,000 after purchasing an additional 1,739,844 shares during the period. Geode Capital Management LLC grew its position in shares of Credo Technology Group by 4.7% in the second quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company's stock valued at $334,740,000 after purchasing an additional 163,305 shares during the period. Swedbank AB grew its position in shares of Credo Technology Group by 29.5% in the first quarter. Swedbank AB now owns 3,219,125 shares of the company's stock valued at $129,280,000 after purchasing an additional 733,811 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company's stock valued at $283,778,000 after purchasing an additional 1,218,504 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRDO. Barclays restated an "overweight" rating and issued a $165.00 target price on shares of Credo Technology Group in a research note on Tuesday. Cowen reaffirmed a "buy" rating on shares of Credo Technology Group in a report on Thursday, September 4th. TD Cowen initiated coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They issued a "buy" rating and a $170.00 price target for the company. Wall Street Zen raised shares of Credo Technology Group from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $170.00 price target on shares of Credo Technology Group in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $128.55.

About Credo Technology Group

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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