Credo Technology Group (NASDAQ:CRDO) COO Sells $10,261,000.00 in Stock

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) COO Yat Lam sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $205.22, for a total transaction of $10,261,000.00. Following the sale, the chief operating officer owned 2,254,169 shares of the company’s stock, valued at $462,600,562.18. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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.

Yat Tung Lam also recently made the following trade(s):

• On Friday, September 25th, Yat Lam sold 50,000 shares of Credo Technology Group stock. The shares were sold at an average price of $206.30, for a total transaction of $10,315,000.00.
• On Friday, July 31st, Yat Lam sold 50,000 shares of Credo Technology Group stock. The stock was sold at an average price of $213.33, for a total transaction of $10,666,500.00.
• On Friday, July 31st, Yat Lam sold 55,441 shares of Credo Technology Group stock. The stock was sold at an average price of $213.02, for a total transaction of $11,810,041.82.

Credo Technology Group Price Performance

Shares of CRDO stock opened at $218.64 on Monday. Credo Technology Group Holding Ltd. has a 1 year low of $86.49 and a 1 year high of $308.67. The firm has a fifty day moving average price of $207.21 and a 200-day moving average price of $198.59. The company has a market cap of $41.09 billion, a price-to-earnings ratio of 77.81, a PEG ratio of 0.87 and a beta of 3.25.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Tuesday, September 1st. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $473.30 million. Credo Technology Group had a return on equity of 28.77% and a net margin of 33.83%.Credo Technology Group’s revenue for the quarter was up 114.7% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Equities research analysts expect that Credo Technology Group Holding Ltd. will post 5.02 EPS for the current year.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Investors are increasingly focused on the next phase of AI spending: the networking, cabling and optical-connectivity components required to link large data-center clusters. Credo’s revenue recently rose 114.7% year over year to $479 million, while earnings exceeded analyst expectations. AI Spending Is Entering Its Next Phase
• Positive Sentiment: The weaker employment backdrop is helping growth-oriented technology shares, including Credo, because potentially lower interest rates can increase the value investors assign to future earnings. Why Credo Technology Stock Is Surging on an Unemployment Jump
• Positive Sentiment: Sell-side sentiment remains favorable, with Credo carrying a “Moderate Buy” consensus rating and an average price target of $264.89. Recent coverage also points to strong momentum after the latest earnings report. Credo Stock Rated Moderate Buy
• Neutral Sentiment: COO Yat Lam sold 50,000 shares for about $10.3 million, while CTO Chi Cheng sold 27,500 shares for approximately $5.3 million. Both transactions were made under pre-arranged Rule 10b5-1 plans; Lam’s sale covered tax withholding tied to equity vesting, and the executives retain substantial holdings. Credo Insider Sale Filing
• Negative Sentiment: Credo’s valuation remains demanding, with a P/E ratio near 78 and substantial volatility. Additional insider selling, including a recent CEO disposition, could weigh on sentiment if investors become concerned that expectations for AI-driven growth are already reflected in the stock. Credo CEO Sells Company Shares

Wall Street Analyst Weigh In

CRDO has been the topic of a number of analyst reports. TD Cowen lifted their price objective on Credo Technology Group from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Mizuho reduced their target price on shares of Credo Technology Group from $290.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, September 21st. Susquehanna raised their target price on shares of Credo Technology Group from $235.00 to $250.00 and gave the stock a “positive” rating in a research note on Tuesday, July 21st. Stifel Nicolaus lifted their price target on shares of Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.89.

Institutional Investors Weigh In On Credo Technology Group

A number of hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC raised its holdings in shares of Credo Technology Group by 239,024.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after acquiring an additional 3,597,318 shares in the last quarter. Atreides Management LP purchased a new position in shares of Credo Technology Group in the 1st quarter worth $102,434,000. The Manufacturers Life Insurance Company grew its stake in shares of Credo Technology Group by 192.1% in the 1st 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 in the last quarter. H&H International Investment LLC increased its holdings in shares of Credo Technology Group by 431.6% in the 1st quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock worth $70,515,000 after buying an additional 609,900 shares during the last quarter. Finally, Scge Management L.P. bought a new stake in shares of Credo Technology Group in the 4th quarter worth about $82,017,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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.