Credo Technology Group (NASDAQ:CRDO) Stock Price Down 3.7% After Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price dropped 3.7% during trading on Thursday after an insider sold shares in the company. The company traded as low as $206.66 and last traded at $211.86. Approximately 9,445,276 shares were traded during trading, an increase of 25% from the average daily volume of 7,543,454 shares. The stock had previously closed at $220.01.

Specifically, CTO Chi Cheng sold 27,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $221.48, for a total transaction of $6,090,700.00. Following the completion of the sale, the chief technology officer directly owned 5,634,897 shares in the company, valued at approximately $1,248,016,987.56. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, insider James Laufman sold 5,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $205.00, for a total value of $1,025,000.00. Following the completion of the transaction, the insider directly owned 164,223 shares of the company’s stock, valued at approximately $33,665,715. This represents a 2.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In other Credo Technology Group news, COO Yat Lam sold 50,000 shares of Credo Technology Group stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $205.22, for a total transaction of $10,261,000.00. Following the sale, the chief operating officer owned 2,254,169 shares of the company’s stock, valued at $462,600,562.18. The trade was a 2.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of recent research reports. Mizuho reduced their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, September 21st. Susquehanna boosted their price target on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. TD Cowen upped their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Bank of America cut their price objective on shares of Credo Technology Group from $340.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, September 2nd. Finally, Weiss Ratings lowered shares of Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.67.

More Credo Technology Group News

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

• Positive Sentiment: Credo’s retimer business is gaining momentum as hyperscalers expand AI data-center infrastructure. Record revenue and new product wins suggest retimers could become an increasingly important growth engine for the company. CRDO’s Retimer Business Gains Steam: Can the Momentum Continue?
• Positive Sentiment: Credo joined the Open Co-Packaged Interface Multi-Source Agreement, placing it in a consortium focused on interoperable near-package and co-packaged optical technologies. Participation could create future opportunities in AI networking and strengthen Credo’s position as a connectivity technology supplier. Credo Technology Joins the Co-Packaged Optics Race
• Positive Sentiment: Recent results showed strong operating momentum: revenue rose 114.7% year over year to $479 million and EPS of $1.20 exceeded the $1.17 consensus estimate. Analysts remain broadly bullish, although several firms have reduced their price targets.
• Neutral Sentiment: The co-packaged optics initiative is strategically promising but remains an industry-development opportunity rather than an announced near-term revenue driver. Credo Technology Joins the Co-Packaged Optics Race
• Negative Sentiment: CTO Chi Cheng sold 27,500 shares for approximately $6.1 million. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding and reduced his holdings by only 0.49%, limiting its significance but potentially adding short-term pressure. Credo CTO Sells $6.1 Million in Stock
• Negative Sentiment: At roughly 75–78 times earnings and with a beta of 3.25, CRDO’s valuation leaves the stock sensitive to profit-taking, analyst target cuts and any concern that AI-related growth expectations are already reflected in the price.

Credo Technology Group Stock Performance

The firm’s 50-day moving average price is $208.72 and its two-hundred day moving average price is $200.98. The stock has a market cap of $39.82 billion, a price-to-earnings ratio of 75.40, a PEG ratio of 0.88 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company had revenue of $479.00 million for the quarter, compared to the consensus estimate of $473.30 million. During the same period in the previous year, the firm earned $0.52 earnings per share. Credo Technology Group’s quarterly revenue was up 114.7% compared to the same quarter last year. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC lifted its stake in Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Credo Technology Group by 13.7% in the 2nd quarter. Bank of America Corp DE now owns 2,182,764 shares of the company’s stock valued at $593,603,000 after buying an additional 262,479 shares during the period. Barclays PLC lifted its stake in Credo Technology Group by 33.8% during the 4th quarter. Barclays PLC now owns 1,448,004 shares of the company’s stock worth $208,353,000 after acquiring an additional 365,923 shares in the last quarter. Atreides Management LP boosted its holdings in Credo Technology Group by 3.5% during the 2nd quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock valued at $307,109,000 after acquiring an additional 38,052 shares during the period. Finally, Franklin Resources Inc. grew its position in Credo Technology Group by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 1,125,369 shares of the company’s stock valued at $161,929,000 after acquiring an additional 36,681 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for data infrastructure. Its technologies are designed to improve the performance, power efficiency and reliability of connections used in cloud computing, artificial intelligence, high-performance computing, telecommunications and enterprise networks.

The company’s product portfolio includes serializer/deserializer (SerDes) intellectual property, integrated circuits, active electrical cables and optical connectivity products.