Credo Technology Group (NASDAQ:CRDO) CFO Sells 7,580 Shares of Company Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CFO Daniel Fleming sold 7,580 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $212.91, for a total value of $1,613,857.80. Following the completion of the transaction, the chief financial officer owned 492,208 shares of the company’s stock, valued at $104,796,005.28. This represents a 1.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Credo Technology Group Stock Performance

CRDO stock traded down $2.53 during mid-day trading on Tuesday, hitting $198.31. 10,820,791 shares of the company were exchanged, compared to its average volume of 7,558,714. The firm has a market cap of $37.27 billion, a P/E ratio of 70.57, a P/E/G ratio of 0.86 and a beta of 3.25. The firm’s 50 day simple moving average is $208.78 and its 200 day simple moving average is $203.24. Credo Technology Group Holding Ltd. has a 1-year low of $86.49 and a 1-year high of $308.67.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The business’s revenue was up 114.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRDO shares. Susquehanna boosted their price objective on shares of Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Stifel Nicolaus lowered their target price on Credo Technology Group from $350.00 to $310.00 and set a “buy” rating for the company in a report on Monday, October 5th. TD Cowen lifted their price target on Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Barclays boosted their price target on Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Finally, Wall Street Zen cut Credo Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $262.67.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Orion Capital Management LLC bought a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $27,000. Burkett Financial Services LLC bought a new position in shares of Credo Technology Group in the third quarter valued at $33,000. Reflection Asset Management bought a new position in shares of Credo Technology Group in the fourth quarter valued at $25,000. Elevation Wealth Partners LLC grew its stake in shares of Credo Technology Group by 292.9% in the third quarter. Elevation Wealth Partners LLC now owns 275 shares of the company’s stock valued at $54,000 after buying an additional 205 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in Credo Technology Group during the first quarter worth $33,000. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo introduced a 1.6T ZeroFlap Active Light Cable, a row-scale, wide-parallel optical interconnect designed for AI data centers. The company says the product can reduce power consumption, improve reliability and extend reach, potentially supporting future revenue growth as AI clusters become larger and more bandwidth-intensive. Credo Unveils 1.6T ZeroFlap Active Light Cable
• Positive Sentiment: The company launched a Short-Reach Micro-Emitter Optics, or SRMO, standardization effort within the Open Compute Project. The workstream is targeting specifications for AI data-center scale-up and scale-out applications, giving Credo an opportunity to influence an emerging industry standard and create longer-term demand for its optical connectivity products. Credo Launches SRMO Standardization
• Positive Sentiment: Credo also described work using AMD programmable-logic-based AI accelerators to address memory-bandwidth constraints, reinforcing its positioning as a supplier of connectivity solutions for increasingly demanding AI infrastructure. Credo Breaks the Memory Wall
• Neutral Sentiment: Investor commentary remains bullish on Credo’s growth opportunity, noting that its expansion has outpaced Marvell and Astera Labs. However, the comparison also underscores that expectations are elevated before the next earnings report. Credo Technology’s Price Targets Reveal the Size of Its Opportunity
• Negative Sentiment: Credo trades at a demanding valuation, with a high earnings multiple and substantial prior gains reflected in the share price. That valuation leaves the stock vulnerable to profit-taking or a pullback when investors do not receive a fresh earnings or guidance catalyst, even as the company’s product announcements remain encouraging.

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.