Credo Technology Group (NASDAQ:CRDO) Trading Down 3.2% on Insider Selling

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price fell 3.2% on Monday following insider selling activity. The stock traded as low as $159.56 and last traded at $164.10. 6,052,434 shares were traded during trading, an increase of 14% from the average session volume of 5,289,029 shares. The stock had previously closed at $169.56.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Noble Financial raised shares of Credo Technology Group to a “strong-buy” rating in a report on Tuesday, June 3rd. Mizuho lifted their target price on shares of Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. TD Cowen lifted their target price on shares of Credo Technology Group from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Finally, Susquehanna lifted their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, Credo Technology Group has a consensus rating of “Buy” and a consensus price target of $126.27.

Credo Technology Group Price Performance

The business’s 50-day moving average price is $125.51 and its two-hundred day moving average price is $82.78. The firm 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 issued its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $190.63 million. During the same period last year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Credo Technology Group

Several institutional investors have recently bought and sold shares of CRDO. Janney Montgomery Scott LLC boosted its stake 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 valued at $270,000 after purchasing an additional 1,467 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Credo Technology Group in the first quarter valued at $27,000. Teacher Retirement System of Texas boosted its stake in shares of Credo Technology Group by 464.4% in the first quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock valued at $1,405,000 after purchasing an additional 28,788 shares during the period. Triumph Capital Management purchased a new position in shares of Credo Technology Group in the second quarter valued at $733,000. Finally, Intech Investment Management LLC boosted its stake in shares of Credo Technology Group by 153.0% in the first quarter. Intech Investment Management LLC now owns 120,338 shares of the company’s stock valued at $4,833,000 after purchasing an additional 72,782 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

About Credo Technology Group

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.