Credo Technology Group (NASDAQ:CRDO) Stock Price Down 9.1% Following Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares traded down 9.1% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $163.84 and last traded at $164.23. 5,742,405 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 5,380,462 shares. The stock had previously closed at $180.64.

Specifically, CEO William Joseph Brennan sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $171.23, for a total transaction of $8,561,500.00. Following the completion of the sale, the chief executive officer directly owned 1,942,502 shares of the company’s stock, valued at $332,614,617.46. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Joseph Brennan sold 18,016 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $171.23, for a total transaction of $3,084,879.68. Following the sale, the chief executive officer directly owned 319,907 shares of the company’s stock, valued at approximately $54,777,675.61. This represents a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, COO Yat Tung Lam sold 80,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $169.27, for a total transaction of $13,541,600.00. Following the completion of the sale, the chief operating officer directly owned 770,000 shares of the company’s stock, valued at $130,337,900. This represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several analysts recently commented on the stock. Susquehanna increased their target price on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Mizuho upped their price target on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Barclays restated an “overweight” rating and issued a $165.00 price target on shares of Credo Technology Group in a research report on Tuesday, October 7th. Finally, Roth Capital restated a “buy” rating and issued a $170.00 price target on shares of Credo Technology Group in a research report on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $140.36.

Credo Technology Group Stock Performance

The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 245.12 and a beta of 2.62. The company’s 50 day simple moving average is $149.53 and its two-hundred day simple moving average is $106.28.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The firm’s quarterly revenue was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ethic Inc. boosted its holdings in shares of Credo Technology Group by 35.5% during the 2nd quarter. Ethic Inc. now owns 7,142 shares of the company’s stock worth $668,000 after buying an additional 1,873 shares during the period. Realta Investment Advisors bought a new stake in Credo Technology Group in the 2nd quarter valued at $300,000. Convergence Investment Partners LLC bought a new stake in Credo Technology Group in the 2nd quarter valued at $2,577,000. Farther Finance Advisors LLC boosted its holdings in Credo Technology Group by 850.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock valued at $383,000 after purchasing an additional 3,700 shares during the period. Finally, US Bancorp DE boosted its holdings in Credo Technology Group by 61.7% in the 2nd quarter. US Bancorp DE now owns 6,422 shares of the company’s stock valued at $595,000 after purchasing an additional 2,451 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.