Credo Technology Group (NASDAQ:CRDO) CEO William Joseph Brennan Sells 16,666 Shares of Company Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CEO William Brennan sold 16,666 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $174.87, for a total transaction of $2,914,383.42. Following the completion of the transaction, the chief executive officer owned 1,584,164 shares of the company’s stock, valued at approximately $277,022,758.68. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, William Brennan sold 16,672 shares of Credo Technology Group stock. The stock was sold at an average price of $151.88, for a total transaction of $2,532,143.36.

Credo Technology Group Price Performance

CRDO opened at $182.28 on Thursday. Credo Technology Group Holding Ltd. has a fifty-two week low of $86.49 and a fifty-two week high of $308.67. The firm has a market capitalization of $34.26 billion, a price-to-earnings ratio of 64.87, a PEG ratio of 0.68 and a beta of 3.25. The company’s 50 day moving average price is $199.85 and its two-hundred day moving average price is $207.31.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Stifel Nicolaus decreased their price objective 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. Susquehanna raised their target price on Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $235.00 target price on shares of Credo Technology Group in a report on Thursday, October 15th. Evercore set a $292.00 price target on Credo Technology Group in a research report on Wednesday, September 2nd. Finally, Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.67.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s recent quarter featured triple-digit revenue growth and a “beat-and-raise” outlook, reinforcing expectations for continued demand for its high-speed connectivity products used in AI data centers. Two Wall Street firms reportedly see substantial upside from current levels, arguing that the recent selloff has created an attractive entry point. Credo Technology Could Have 80% Upside
• Positive Sentiment: The company is developing optical cables designed to use approximately 30% less power than comparable copper products. Although the product is not expected to ship until 2027, investors may view optical connectivity as a potential second growth engine as AI data-center power demands increase. Credo Optical Cable Opportunity
• Neutral Sentiment: After a major multiyear rally tied to AI data-center connectivity, one analysis concluded that CRDO appears fairly valued based on the cash flows it can reasonably generate. This highlights the tension between the company’s strong growth prospects and its elevated valuation. Credo Stock Valuation Analysis
• Negative Sentiment: CEO William Brennan sold 16,666 shares for approximately $2.9 million, reducing his direct ownership by about 1.04%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which limits its significance as a discretionary bearish signal, but insider selling can still weigh modestly on sentiment. Credo CEO SEC Form 4 Filing

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRDO. Bank of America Corp DE boosted its stake 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 purchasing an additional 262,479 shares during the last quarter. Atreides Management LP raised its stake in Credo Technology Group by 3.5% during the second quarter. Atreides Management LP now owns 1,129,285 shares of the company’s stock worth $307,109,000 after buying an additional 38,052 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Credo Technology Group by 192.1% during the first quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock worth $98,290,000 after buying an additional 688,596 shares during the last quarter. Value Aligned Research Advisors LLC bought a new position in Credo Technology Group during the second quarter worth $91,919,000. Finally, Zevenbergen Capital Investments LLC lifted its holdings in Credo Technology Group by 4.9% in the third quarter. Zevenbergen Capital Investments LLC now owns 418,991 shares of the company’s stock valued at $81,615,000 after buying an additional 19,685 shares during the period. Institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd. is a fabless semiconductor and connectivity solutions company that develops high-speed data-infrastructure technologies. Its products are designed to help data centers and communications networks move large volumes of information with lower power consumption and improved signal integrity.

The company’s portfolio includes serializer/deserializer (SerDes) intellectual property, application-specific integrated circuits, active electrical cables, optical digital signal processors and related connectivity platforms.