Credo Technology Group (NASDAQ:CRDO) Stock Price Down 1.1% Following Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) fell 1.1% on Tuesday after an insider sold shares in the company. The company traded as low as $155.21 and last traded at $162.26. 4,814,415 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 5,286,522 shares. The stock had previously closed at $164.10.

Specifically, Director Lip Bu Tan sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $175.12, for a total value of $3,502,400.00. Following the completion of the sale, the director owned 422,180 shares of the company’s stock, valued at $73,932,161.60. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Joseph Brennan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $164.11, for a total value of $8,205,500.00. Following the completion of the sale, the chief executive officer directly owned 1,992,502 shares of the company’s stock, valued at approximately $326,989,503.22. This trade represents a 2.45% decrease in their position. The disclosure for this sale can be found here. In other news, CEO William Joseph Brennan sold 18,016 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $164.11, for a total value of $2,956,605.76. Following the completion of the sale, the chief executive officer owned 369,173 shares of the company’s stock, valued at $60,584,981.03. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Analyst Ratings Changes

Several brokerages have recently commented on CRDO. Noble Financial raised Credo Technology Group to a “strong-buy” rating in a research report on Tuesday, June 3rd. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Roth Capital raised their target price on Credo Technology Group from $95.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. 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. Finally, Barclays lifted their price objective on Credo Technology Group from $85.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat, Credo Technology Group currently has an average rating of “Buy” and a consensus price target of $126.27.

Credo Technology Group Stock Down 1.1%

The business has a 50-day simple moving average of $125.51 and a two-hundred day simple moving average of $82.78. The company has a market cap of $28.07 billion, a price-to-earnings ratio of 242.18 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same period in the prior year, the firm earned $0.04 EPS. Credo Technology Group’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 analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in shares of Credo Technology Group by 27.9% in the first quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock worth $270,000 after buying an additional 1,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Credo Technology Group in the first quarter worth $27,000. Teacher Retirement System of Texas increased its position in Credo Technology Group by 464.4% during the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock worth $1,405,000 after acquiring an additional 28,788 shares during the period. Triumph Capital Management bought a new position in Credo Technology Group during the second quarter worth $733,000. Finally, Intech Investment Management LLC increased its position in Credo Technology Group by 153.0% during the first quarter. Intech Investment Management LLC now owns 120,338 shares of the company’s stock worth $4,833,000 after acquiring an additional 72,782 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.