Credo Technology Group (NASDAQ:CRDO) CFO Daniel Fleming Sells 40,000 Shares of Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CFO Daniel Fleming sold 40,000 shares of Credo Technology Group stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the transaction, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Credo Technology Group Price Performance

Shares of CRDO opened at $259.41 on Tuesday. The firm has a 50-day moving average of $187.62 and a 200-day moving average of $151.53. Credo Technology Group Holding Ltd. has a one year low of $75.50 and a one year high of $270.21. The company has a market cap of $47.85 billion, a PE ratio of 104.60, a price-to-earnings-growth ratio of 1.32 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The company had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same quarter last year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 157.0% on a year-over-year basis. Analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Credo Technology Group by 9.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after purchasing an additional 23,332 shares during the period. FengHe Fund Management Pte. Ltd. raised its stake in Credo Technology Group by 5.7% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after buying an additional 8,769 shares during the period. M&T Bank Corp raised its stake in Credo Technology Group by 428.8% during the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after buying an additional 10,888 shares during the period. TD Asset Management Inc acquired a new position in Credo Technology Group during the 3rd quarter worth approximately $17,454,000. Finally, Second Line Capital LLC acquired a new position in Credo Technology Group during the 3rd quarter worth approximately $4,283,000. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s latest results and guidance remain the main catalyst, with the company reporting stronger-than-expected revenue and earnings and projecting continued growth next quarter. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal – What’s Changed
• Positive Sentiment: Analyst coverage this morning was constructive, pointing to Credo’s exposure to the AI connectivity upgrade cycle and growing optical product opportunities, which supports the stock’s momentum. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Positive Sentiment: Additional reports called Credo a strong momentum stock and questioned whether it still deserves a buy rating after its sharp rally, underscoring investor enthusiasm for the name. Credo Technology Group Holding Ltd. (CRDO) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: CFO Daniel W. Fleming sold 40,000 shares under a pre-arranged 10b5-1 plan, but the sale was tied to tax withholding on vested equity awards, which makes it less concerning as a signal about fundamentals. SEC Form 4 filing
• Negative Sentiment: After a large run-up, some coverage noted that valuation is getting rich, so the stock may be vulnerable if earnings growth, margins, or customer ramps disappoint. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?

Analysts Set New Price Targets

A number of analysts have recently issued reports on CRDO shares. Rosenblatt Securities raised their price objective on Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group raised their price objective on Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Stifel Nicolaus set a $250.00 price objective on Credo Technology Group in a research report on Wednesday, May 27th. Susquehanna raised their price objective on Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a research report on Tuesday, June 2nd. Finally, Bank of America lifted their price target on Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average price target of $248.41.

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.