Credo Technology Group (NASDAQ:CRDO) CTO Chi Fung Cheng Sells 30,000 Shares

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) CTO Chi Fung Cheng sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $139.93, for a total transaction of $4,197,900.00. Following the completion of the sale, the chief technology officer directly owned 6,387,370 shares of the company’s stock, valued at approximately $893,784,684.10. The trade was a 0.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Chi Fung Cheng also recently made the following trade(s):

• On Friday, January 2nd, Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.61, for a total value of $4,308,300.00.
• On Monday, December 29th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.41, for a total value of $7,887,550.00.
• On Monday, December 22nd, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $150.77, for a total value of $8,292,350.00.
• On Monday, December 15th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $143.94, for a total value of $7,916,700.00.
• On Monday, December 8th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $174.70, for a total transaction of $9,608,500.00.
• On Monday, October 27th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The stock was sold at an average price of $156.32, for a total transaction of $8,597,600.00.
• On Monday, October 20th, Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock. The shares were sold at an average price of $150.34, for a total transaction of $8,268,700.00.

Credo Technology Group Price Performance

Credo Technology Group stock opened at $156.07 on Tuesday. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 136.90 and a beta of 2.66. The firm has a 50-day moving average of $153.79 and a two-hundred day moving average of $137.61. Credo Technology Group Holding Ltd. has a 1 year low of $29.09 and a 1 year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.18. The business had revenue of $268.03 million for the quarter, compared to analyst estimates of $234.99 million. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The company’s quarterly revenue was up 272.1% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Credo Technology Group News Roundup

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

• Positive Sentiment: Positive momentum stories from retail/financial press that can attract buying interest — recent pieces highlight CRDO as a top momentum pick, increasing visibility among momentum traders and retail investors. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd. (CRDO) is a Great Choice
• Positive Sentiment: Additional bullish write-up from Zacks reinforcing the momentum narrative; such analyst/coverage pieces often boost short-term demand and can amplify moves after strong recent earnings. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd.
• Positive Sentiment: Follow-up coverage noting a recent price gain increases attention and may trigger additional buying from momentum/short-term traders. Credo Technology Group (NASDAQ:CRDO) Shares Up 6.2% – Should You Buy?
• Neutral Sentiment: Reported short-interest data shows effectively zero short interest (and an anomalous “NaN” change), suggesting little short-seller pressure to fuel squeezes — likely a data/reporting quirk rather than a market driver. (No link available.)
• Negative Sentiment: Insider selling by executives — CTO Chi Fung Cheng sold 30,000 shares (~$4.2M) (SEC Form 4 filed). Large insider sales by senior officers can weigh on sentiment even though insiders still hold large positions. CTO Form 4
• Negative Sentiment: Additional insider sales reported: multiple filings show the CFO sold roughly $597k and $547k, and the CEO sold roughly $1.41M and $1.32M in separate transactions — cumulative insider selling may temper gains. CFO Sells $597,412 CFO Sells $546,865 CEO Sells $1,411,873 CEO Sells $1,322,281

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Credo Technology Group by 36.5% during the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock valued at $602,662,000 after acquiring an additional 1,739,844 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after purchasing an additional 1,406,752 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Credo Technology Group in the 3rd quarter worth $183,553,000. Alliancebernstein L.P. grew its stake in Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after buying an additional 1,218,504 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Credo Technology Group by 2,537.7% during the 3rd quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock valued at $167,452,000 after buying an additional 1,106,401 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRDO. JPMorgan Chase & Co. began coverage on Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 price target on the stock. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 4th. Needham & Company LLC boosted their price target on shares of Credo Technology Group from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research note on Monday, December 29th. Finally, KGI Securities raised shares of Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 price objective for the company in a research note on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $217.08.

About Credo Technology Group

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.