Credo Technology Group (NASDAQ:CRDO) CEO Sells $8,561,500.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CEO William Joseph Brennan sold 50,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $171.23, for a total value of $8,561,500.00. Following the sale, the chief executive officer directly owned 1,942,502 shares of the company’s stock, valued at approximately $332,614,617.46. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

William Joseph Brennan also recently made the following trade(s):

• On Thursday, October 30th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The stock was sold at an average price of $171.23, for a total value of $3,084,879.68.
• On Tuesday, October 7th, William Joseph Brennan sold 9,476 shares of Credo Technology Group stock. The stock was sold at an average price of $140.06, for a total value of $1,327,208.56.
• On Tuesday, September 16th, William Joseph Brennan sold 50,000 shares of Credo Technology Group stock. The stock was sold at an average price of $164.11, for a total value of $8,205,500.00.
• On Tuesday, September 16th, William Joseph Brennan sold 18,016 shares of Credo Technology Group stock. The stock was sold at an average price of $164.11, for a total value of $2,956,605.76.

Credo Technology Group Stock Performance

Shares of CRDO traded down $6.98 during midday trading on Monday, hitting $180.64. 4,517,210 shares of the stock were exchanged, compared to its average volume of 5,383,398. Credo Technology Group Holding Ltd. has a 52-week low of $29.09 and a 52-week high of $193.50. The stock has a fifty day simple moving average of $147.35 and a 200 day simple moving average of $104.37. The firm has a market cap of $31.25 billion, a P/E ratio of 269.61 and a beta of 2.62.

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

Analyst Ratings Changes

Several research firms have recently commented on CRDO. Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Mizuho raised their price target on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 8th. Finally, Stifel Nicolaus set a $160.00 target price on Credo Technology Group in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $140.36.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the business. Ethic Inc. boosted its holdings in Credo Technology Group by 35.5% in the 2nd quarter. Ethic Inc. now owns 7,142 shares of the company’s stock valued at $668,000 after purchasing an additional 1,873 shares in the last quarter. Realta Investment Advisors purchased a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $300,000. Convergence Investment Partners LLC purchased a new stake in shares of Credo Technology Group during the 2nd quarter worth approximately $2,577,000. Janney Montgomery Scott LLC boosted its stake in shares of Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock worth $270,000 after acquiring an additional 1,467 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Credo Technology Group by 850.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock worth $383,000 after acquiring an additional 3,700 shares in the last quarter. 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.