Stock Traders Purchase High Volume of Put Options on Credo Technology Group (NASDAQ:CRDO)

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) was the target of some unusual options trading on Thursday. Investors purchased 16,549 put options on the stock. This represents an increase of approximately 26% compared to the typical volume of 13,090 put options.

Insider Activity

In other news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $98.53, for a total value of $5,419,150.00. Following the completion of the transaction, the chief technology officer owned 7,273,961 shares in the company, valued at approximately $716,703,377.33. This trade represents a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the transaction, the chief executive officer owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,033,917 shares of company stock worth $99,967,419. 11.84% of the stock is currently owned by company insiders.

Institutional Trading of Credo Technology Group

Several large investors have recently added to or reduced their stakes in CRDO. Operose Advisors LLC increased its position in Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after acquiring an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Credo Technology Group in the first quarter worth $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the first quarter worth $27,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Credo Technology Group in the second quarter worth $27,000. Finally, Harbour Investments Inc. acquired a new stake in Credo Technology Group during the first quarter valued at $29,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRDO has been the topic of several research analyst reports. TD Cowen raised their target price on Credo Technology Group from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research note on Thursday, September 4th. Barclays lifted their price target on Credo Technology Group from $85.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Susquehanna boosted their target price on Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research report on Thursday, September 4th. Finally, Noble Financial raised Credo Technology Group to a “strong-buy” rating in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $126.27.

Credo Technology Group Trading Down 2.8%

Shares of Credo Technology Group stock opened at $159.32 on Friday. The business’s 50 day simple moving average is $114.53 and its 200-day simple moving average is $76.28. The stock has a market capitalization of $27.56 billion, a price-to-earnings ratio of 237.79 and a beta of 2.59. Credo Technology Group has a twelve month low of $26.31 and a twelve month high of $168.42.

Credo Technology Group (NASDAQ:CRDO) last posted its 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 net margin of 20.85% and a return on equity of 19.02%. The business had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The firm’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts predict that Credo Technology Group will post 0.13 earnings per share for the current year.

Credo Technology Group Company Profile

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.