Credo Technology Group (NASDAQ:CRDO) CFO Daniel Fleming Sells 40,000 Shares of Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CFO Daniel Fleming sold 40,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the transaction, the chief financial officer directly owned 501,873 shares in the company, valued at approximately $125,207,276.04. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

Credo Technology Group Trading Up 3.4%

Shares of CRDO traded up $8.60 during mid-day trading on Monday, reaching $259.41. The company had a trading volume of 7,894,691 shares, compared to its average volume of 7,530,330. The stock has a market cap of $47.85 billion, a price-to-earnings ratio of 104.60, a price-to-earnings-growth ratio of 1.32 and a beta of 3.22. The firm has a fifty day simple moving average of $184.46 and a 200-day simple moving average of $150.79. Credo Technology Group Holding Ltd. has a fifty-two week low of $75.50 and a fifty-two week high of $270.21.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The firm had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 157.0% compared to the same quarter last year. As a group, equities analysts predict that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRDO has been the subject of a number of research reports. Bank of America lifted their price objective on shares of Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Rothschild & Co Redburn initiated coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They set a “buy” rating and a $206.00 price objective on the stock. Roth Mkm lifted their price target on Credo Technology Group from $200.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Craig Hallum restated a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Finally, TD Cowen upped their target price on Credo Technology Group from $240.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Credo Technology Group has a consensus rating of “Moderate Buy” and an average target price of $248.41.

Institutional Trading of Credo Technology Group

A number of hedge funds have recently modified their holdings of CRDO. Carmignac Gestion bought a new stake in shares of Credo Technology Group in the 1st quarter valued at approximately $34,216,000. NewEdge Advisors LLC grew its stake in Credo Technology Group by 24.1% during the first quarter. NewEdge Advisors LLC now owns 5,883 shares of the company’s stock worth $552,000 after buying an additional 1,141 shares during the last quarter. Glenmede Trust Co. NA lifted its position in Credo Technology Group by 2.0% during the 1st quarter. Glenmede Trust Co. NA now owns 5,706 shares of the company’s stock worth $536,000 after buying an additional 114 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Credo Technology Group by 12.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 111,621 shares of the company’s stock worth $10,478,000 after purchasing an additional 12,616 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new position in shares of Credo Technology Group during the first quarter valued at $506,000. 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’s latest results showed strong revenue and earnings growth, and management’s guidance points to continued momentum, which is supporting investor confidence. Credo Technology Group Holding (CRDO) Is Up 21.2% After Earnings Beat And DustPhotonics Deal – What’s Changed
• Positive Sentiment: Analysts highlighted Credo’s exposure to the AI interconnect upgrade cycle, with copper, optical, and scale-up networking products positioned to address data-center bottlenecks. Credo Technology Rides the AI Interconnect Upgrade Cycle
• Positive Sentiment: Credo’s AI connectivity story is expanding into optical products, which could widen the addressable market if customer ramps continue and margins hold up. Credo Technology Stock Outlook Hinges on AI and Optical Scale
• Neutral Sentiment: Several articles framed CRDO as a momentum stock after a large run-up, suggesting investor enthusiasm remains high but valuation is now a bigger part of the debate. Credo Technology Group Holding Ltd. (CRDO) is a Great Momentum Stock: Should You Buy?
• Neutral Sentiment: One report said Credo still looks worth watching despite a rich valuation because earnings growth, revisions, margins, and cash flow remain supportive. Is CRDO Stock Still Worth Buying After Its Massive Run Higher?
• Negative Sentiment: Investors may also be weighing insider selling by the CTO, which can create concern even when the business fundamentals are strong. Insider Selling: Credo Technology Group (NASDAQ:CRDO) CTO Sells $7,137,075.00 in 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.