Credo Technology Group (NASDAQ:CRDO) Shares Gap Down Following Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $149.38, but opened at $139.84. Credo Technology Group shares last traded at $142.20, with a volume of 1,895,336 shares.

Specifically, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $164.98, for a total value of $9,073,900.00. Following the completion of the sale, the chief technology officer owned 6,943,961 shares of the company’s stock, valued at approximately $1,145,614,685.78. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lip Bu Tan sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were 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 directly owned 422,180 shares of the company’s stock, valued at approximately $73,932,161.60. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

CRDO has been the subject of a number of recent analyst reports. TD Cowen raised their target price on Credo Technology Group from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Wall Street Zen lowered Credo Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, September 20th. Stifel Nicolaus set a $155.00 target price on Credo Technology Group in a report on Thursday, September 4th. Needham & Company LLC upped their target price on Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Roth Capital upped their target price on Credo Technology Group from $95.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $126.27.

Credo Technology Group Price Performance

The company has a 50-day moving average price of $127.41 and a 200-day moving average price of $83.97. The firm has a market capitalization of $25.07 billion, a PE ratio of 216.33 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share (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 company had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same quarter in the prior year, the company 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. On average, research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in shares of Credo Technology Group by 3.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,684 shares of the company’s stock valued at $341,000 after acquiring an additional 126 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Credo Technology Group by 3.9% in the second quarter. Blue Trust Inc. now owns 4,108 shares of the company’s stock valued at $380,000 after acquiring an additional 154 shares in the last quarter. Signaturefd LLC lifted its position in Credo Technology Group by 32.4% during the second quarter. Signaturefd LLC now owns 703 shares of the company’s stock worth $65,000 after buying an additional 172 shares during the period. Main Management ETF Advisors LLC boosted its stake in Credo Technology Group by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 11,728 shares of the company’s stock worth $1,086,000 after buying an additional 192 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Credo Technology Group by 21.5% in the 1st quarter. Larson Financial Group LLC now owns 1,386 shares of the company’s stock valued at $56,000 after buying an additional 245 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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.