Credo Technology Group (NASDAQ:CRDO) Shares Down 7.2% on Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares were down 7.2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $104.95 and last traded at $111.31. Approximately 10,887,324 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 6,359,590 shares. The stock had previously closed at $119.96.

Specifically, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Friday, January 30th. The stock was sold at an average price of $128.67, for a total transaction 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. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $127.69, for a total value of $6,384,500.00. Following the completion of the transaction, the chief executive officer owned 1,832,502 shares of the company’s stock, valued at $233,992,180.38. This trade represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. In other news, CEO William Joseph Brennan sold 18,016 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $127.69, for a total transaction of $2,300,463.04. Following the completion of the sale, the chief executive officer directly owned 252,625 shares of the company’s stock, valued at $32,257,686.25. This trade represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Rosenblatt Securities assumed coverage on shares of Credo Technology Group in a research report on Wednesday, January 21st. They set a “neutral” rating and a $170.00 price target for the company. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday. Mizuho increased their target price on shares of Credo Technology Group from $165.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a research note on Monday, December 29th. Finally, Bank of America lifted their price target on shares of Credo Technology Group from $165.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $216.54.

Key Headlines Impacting Credo Technology Group

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Strategic product/partner progress: Credo is promoting its Blue Heron 224G retimer (3nm) for AI scale‑up networking and announced deals/partnerships (including coverage on the Blue Heron/3M angle) that support longer‑term revenue upside in AI data‑center interconnects. Read More.
• Positive Sentiment: Bullish research and theses: Bank of America and other analysts continue to frame Credo as a long‑term beneficiary of AI/cloud connectivity, and several bullish writeups argue current pullbacks are attractive entry points. Read More.
• Positive Sentiment: Independent investor bullish pieces: Some investors and analysts have recently upgraded or publicly said they’re buying at lower levels, highlighting strong revenue growth and margin expansion as a catalyst for recovery. Read More.
• Neutral Sentiment: Short‑interest data appears anomalous/insignificant (reported as effectively zero); this suggests short activity is not a meaningful driver of today’s move. (Data flagged as irregular.)
• Neutral Sentiment: Broader bull‑case commentary and research pieces remain available for longer‑term investors but are not immediate market movers. Read More.
• Negative Sentiment: Insider selling pressure: Multiple insiders sold shares in late January (CEO/related filings, CTO sale of 27,500 shares, and a director sale of 1,875 shares). These disclosed Form 4 sales can hurt sentiment, especially after a strong run‑up. Read More. • Read More. • Read More.
• Negative Sentiment: Analyst downgrades/ratings pressure: Zacks moved Credo from “strong‑buy” to “hold,” and at least one Seeking Alpha piece published a rating downgrade — actions that can prompt short‑term selling or stop‑loss triggers. Read More. • Read More.

Credo Technology Group Trading Down 12.9%

The company’s fifty day moving average is $147.68 and its 200 day moving average is $142.08. The company has a market capitalization of $17.51 billion, a P/E ratio of 85.04 and a beta of 2.65.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $268.03 million during the quarter, compared to analyst estimates of $234.99 million. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 272.1% on a year-over-year basis. Equities research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Moneco Advisors LLC increased its position in shares of Credo Technology Group by 22.7% during the fourth quarter. Moneco Advisors LLC now owns 3,271 shares of the company’s stock valued at $471,000 after buying an additional 606 shares during the period. Independent Advisor Alliance grew its stake in Credo Technology Group by 17.0% during the fourth quarter. Independent Advisor Alliance now owns 5,864 shares of the company’s stock valued at $844,000 after acquiring an additional 852 shares in the last quarter. World Investment Advisors increased its holdings in Credo Technology Group by 77.5% during the 4th quarter. World Investment Advisors now owns 2,870 shares of the company’s stock worth $413,000 after acquiring an additional 1,253 shares during the period. Peregrine Investment Management Inc. bought a new stake in Credo Technology Group during the 4th quarter worth approximately $6,540,000. Finally, HighPoint Advisor Group LLC lifted its stake in Credo Technology Group by 8.3% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,480 shares of the company’s stock worth $357,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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.