Insider Selling: Credo Technology Group (NASDAQ:CRDO) COO Sells $9,624,300.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) COO Yat Tung Lam sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $137.49, for a total value of $9,624,300.00. Following the completion of the transaction, the chief operating officer directly owned 850,000 shares in the company, valued at approximately $116,866,500. This represents a 7.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Yat Tung Lam also recently made the following trade(s):

• On Wednesday, October 1st, Yat Tung Lam sold 80,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00.

Credo Technology Group Trading Up 3.0%

NASDAQ CRDO opened at $155.55 on Monday. The stock’s 50 day moving average is $141.61 and its 200 day moving average is $99.40. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The stock has a market cap of $26.91 billion, a PE ratio of 232.16 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRDO. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Roth Capital reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Needham & Company LLC lifted their price objective on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Barclays reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Credo Technology Group in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Credo Technology Group has a consensus rating of “Buy” and a consensus price target of $140.36.

Hedge Funds Weigh In On Credo Technology Group

Large investors have recently modified their holdings of the stock. Realta Investment Advisors bought a new position in shares of Credo Technology Group during the 2nd quarter valued at approximately $300,000. Janney Montgomery Scott LLC grew its position in Credo Technology Group by 27.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock valued at $270,000 after acquiring an additional 1,467 shares during the last quarter. Farther Finance Advisors LLC grew its position in Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock valued at $383,000 after acquiring an additional 3,700 shares during the last quarter. US Bancorp DE grew its position in Credo Technology Group by 61.7% in the 2nd quarter. US Bancorp DE now owns 6,422 shares of the company’s stock valued at $595,000 after acquiring an additional 2,451 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Credo Technology Group in the 1st quarter valued at $27,000. Institutional investors own 80.46% of the company’s stock.

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.