Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $269.84, for a total value of $7,420,600.00. Following the transaction, the chief technology officer owned 5,909,870 shares of the company’s stock, valued at approximately $1,594,719,320.80. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chi Fung Cheng also recently made the following trade(s):

• On Tuesday, June 23rd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $270.94, for a total value of $7,450,850.00.
• On Tuesday, June 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $246.69, for a total value of $6,783,975.00.
• On Thursday, June 11th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $259.53, for a total value of $7,137,075.00.
• On Friday, May 1st, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $178.99, for a total transaction of $4,922,225.00.
• On Monday, April 27th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $179.33, for a total transaction of $4,931,575.00.
• On Wednesday, April 22nd, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $188.02, for a total transaction of $5,170,550.00.
• On Thursday, April 16th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $157.58, for a total transaction of $4,333,450.00.
• On Friday, April 10th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The stock was sold at an average price of $118.25, for a total transaction of $3,251,875.00.
• On Monday, April 6th, Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock. The shares were sold at an average price of $103.19, for a total transaction of $2,837,725.00.
• On Sunday, April 5th, Chi Fung Cheng sold 2,434 shares of Credo Technology Group stock. The shares were sold at an average price of $101.45, for a total transaction of $246,929.30.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $241.91 on Friday. Credo Technology Group Holding Ltd. has a 52-week low of $86.49 and a 52-week high of $308.67. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of 97.54, a PEG ratio of 1.11 and a beta of 3.20. The firm has a 50-day moving average price of $220.92 and a two-hundred day moving average price of $160.44.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.02 by $0.14. The company had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. Credo Technology Group’s revenue was up 157.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. Research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo’s DustPhotonics deal is seen as deepening its AI data center connectivity strategy and adding another growth catalyst. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Positive Sentiment: Credo was added to larger Russell benchmarks, including the Russell 1000 and Russell Midcap, which can increase index-driven buying and reflects its growth in market stature. How Credo’s Shift Into Larger Russell Indices and AI Connectivity Focus Will Impact CRDO Investors
• Positive Sentiment: Active Electrical Cables are driving adoption and supporting Credo’s long-term AI connectivity growth outlook as reliability improves and customer usage expands. How are Active Electrical Cables Driving Credo’s Growth?
• Positive Sentiment: Analyst estimate revisions remain strongly favorable, with multiple upward EPS and revenue revisions over the past three months, suggesting continued confidence in growth. How Credo Technology Group Holding Ltd’s (CRDO) DustPhotonics Deal Deepens Its AI Data Center Connectivity Roadmap
• Neutral Sentiment: Credo continues to be highlighted by momentum-stock screens and “profitable stocks” lists, reinforcing market interest but not changing the core business outlook. Micron & 2 Profitable Stocks to Buy in July for Explosive Upside
• Neutral Sentiment: Despite the bullish setup, one market commentary notes the stock has already run sharply this year and suggests limited near-term upside after the rally. Price Prediction: Up 90% YTD, Will Credo’s Rally Continue?
• Negative Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a pre-arranged 10b5-1 plan, which can weigh on sentiment even though it was a routine transaction. Chi Fung Cheng Sells 27,500 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Cowen lifted their target price on Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Stifel Nicolaus boosted their price target on Credo Technology Group from $250.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Evercore began coverage on shares of Credo Technology Group in a research note on Monday, June 22nd. They set an “outperform” rating and a $325.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $263.11.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRDO. Crewe Advisors LLC boosted its stake in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. Reflection Asset Management bought a new stake in shares of Credo Technology Group in the 4th quarter worth $25,000. Acumen Wealth Advisors LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at $36,000. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.