Chi Fung Cheng Sells 55,000 Shares of Credo Technology Group (NASDAQ:CRDO) Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $150.34, for a total transaction of $8,268,700.00. Following the sale, the chief technology officer directly owned 6,723,961 shares in the company, valued at $1,010,880,296.74. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, October 13th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $148.08, for a total transaction of $8,144,400.00.
• On Monday, October 6th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $148.35, for a total transaction of $8,159,250.00.
• On Monday, September 29th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $148.87, for a total transaction of $8,187,850.00.
• On Monday, September 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $164.98, for a total transaction of $9,073,900.00.
• On Monday, September 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $163.98, for a total transaction of $9,018,900.00.
• On Monday, September 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $146.21, for a total transaction of $8,041,550.00.
• On Friday, August 1st, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $107.12, for a total transaction of $5,891,600.00.
• On Monday, July 28th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $105.80, for a total transaction of $5,819,000.00.

Credo Technology Group Stock Performance

CRDO opened at $150.97 on Friday. The company’s 50 day simple moving average is $140.83 and its 200 day simple moving average is $97.74. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $176.70. The stock has a market capitalization of $26.12 billion, a PE ratio of 225.33 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.Credo Technology Group’s revenue was up 273.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Credo Technology Group in a report on Friday, October 17th. They set an “overweight” rating and a $165.00 price objective for the company. Susquehanna upped their price objective on Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday. Roth Capital restated a “buy” rating and set a $170.00 price objective on shares of Credo Technology Group in a report on Tuesday, September 30th. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Finally, TD Cowen began coverage on shares of Credo Technology Group in a report on Wednesday, October 1st. They issued a “buy” rating and a $170.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $140.36.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its holdings in Credo Technology Group by 231.3% in the third quarter. Nisa Investment Advisors LLC now owns 12,204 shares of the company’s stock valued at $1,777,000 after buying an additional 8,520 shares during the period. SG Americas Securities LLC raised its stake in shares of Credo Technology Group by 232.5% during the third quarter. SG Americas Securities LLC now owns 23,837 shares of the company’s stock valued at $3,471,000 after purchasing an additional 16,667 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Credo Technology Group during the third quarter valued at approximately $233,000. Texas Bank & Trust Co purchased a new stake in shares of Credo Technology Group during the third quarter valued at approximately $329,000. Finally, Realta Investment Advisors raised its stake in shares of Credo Technology Group by 41.1% during the third quarter. Realta Investment Advisors now owns 4,569 shares of the company’s stock valued at $665,000 after purchasing an additional 1,330 shares during the period. Hedge funds and other 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.