Credo Technology Group (NASDAQ:CRDO) Trading Down 3.4% on Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price fell 3.4% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $101.67 and last traded at $103.40. 6,650,409 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 7,333,906 shares. The stock had previously closed at $107.09.

Specifically, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $107.90, for a total transaction of $2,967,250.00. Following the transaction, the chief technology officer directly owned 6,244,870 shares of the company’s stock, valued at approximately $673,821,473. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group set a $165.00 target price on Credo Technology Group and gave the company a “buy” rating in a research note on Thursday, February 19th. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Stifel Nicolaus set a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. New Street Research set a $240.00 target price on shares of Credo Technology Group in a report on Tuesday, December 2nd. Finally, KGI Securities raised Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 target price on the stock in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $206.33.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Analyst consensus remains bullish — CRDO carries an average “Buy” rating as multiple firms cite robust AI/data‑center demand and favorable forward multiples, supporting continued investor interest. Article
• Positive Sentiment: Price-target and rating upgrades: recent research notes (including a Seeking Alpha upgrade) point to sustained >200% YoY revenue growth, EPS acceleration and a strong net cash position — fundamental drivers that justify buy-side flows. Article
• Positive Sentiment: Product momentum: new 800G ZeroFlap transceivers and updated DSP families aimed at AI data‑center networking bolster Credo’s addressable market and revenue outlook. Product cadence supports the bull case for growth. Article
• Neutral Sentiment: Market and coverage context mixed — some outlets highlight conflicting analyst views and industry comparisons; useful for framing risk but not an immediate sell signal. Article
• Neutral Sentiment: Tactical flows and options interest are elevated — several pieces note heightened options and trade‑flow activity that can amplify short‑term moves but don’t change Credo’s fundamentals. Article
• Neutral Sentiment: Reported short interest data showed zero shares (likely a reporting glitch), implying limited publicly reported short exposure — reduces visible short‑squeeze risk but the figure is unreliable. (Reported 3/19)
• Negative Sentiment: Insider selling: CTO Chi Fung Cheng sold 27,500 shares at an average ~$107.90 (SEC filing). While the exec still holds a very large stake, repeated sizable sales can weigh on near‑term sentiment. SEC Filing

Credo Technology Group Stock Down 3.4%

The firm has a market cap of $19.07 billion, a PE ratio of 57.44 and a beta of 2.67. The firm’s fifty day simple moving average is $123.29 and its two-hundred day simple moving average is $142.43.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. The firm had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The company’s revenue was up 201.5% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System grew its stake in Credo Technology Group by 17.2% during the second quarter. California Public Employees Retirement System now owns 257,567 shares of the company’s stock valued at $23,848,000 after acquiring an additional 37,772 shares in the last quarter. Optimize Financial Inc purchased a new stake in Credo Technology Group in the 3rd quarter worth $1,431,000. Estate Counselors LLC bought a new position in shares of Credo Technology Group during the 3rd quarter valued at about $2,548,000. Global Trust Asset Management LLC purchased a new position in shares of Credo Technology Group during the third quarter valued at about $2,167,000. Finally, New York State Common Retirement Fund grew its position in shares of Credo Technology Group by 106.5% during the third quarter. New York State Common Retirement Fund now owns 146,134 shares of the company’s stock valued at $21,279,000 after purchasing an additional 75,369 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

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.