Nucor earnings beat by $0.08, revenue fell short of estimates
Brennan William Joseph, President and CEO of Credo Technology Group Holding Ltd (NASDAQ:CRDO), a $7.3 billion market cap semiconductor company that has delivered an impressive 96% return over the past year, has sold a significant portion of his holdings in the company. According to a recent SEC filing, Brennan sold a total of 143,880 ordinary shares on March 6, 2025, generating approximately $5.88 million. The shares were sold at prices ranging from $40.4519 to $43.0432. Following these transactions, Brennan retains ownership of 2,226,978 shares through The Brennan Family Trust. These sales were conducted under a pre-arranged Rule 10b5-1 trading plan. According to InvestingPro data, the stock currently appears overvalued against its Fair Value, with analysts maintaining a strong buy consensus and setting price targets ranging from $60 to $90. Get deeper insights into insider trading patterns and 20+ additional ProTips with InvestingPro.
In other recent news, Credo Technology Group Holding Ltd reported strong financial results for the third quarter of fiscal year 2025, with revenue reaching $135 million, a 154% increase year-over-year. The company also surpassed earnings per share expectations, posting $0.25 compared to the anticipated $0.18. Stifel analysts have maintained a Buy rating on Credo, setting a price target of $85, following the company’s impressive performance. The firm highlighted Credo’s raised revenue outlook for the April quarter, projecting a midpoint of $160 million, which is 15.9% higher than previous estimates.
Credo’s growth is attributed to the ramp-up of its Advanced Electronic Components program, alongside contributions from its Optical DSPs and Line Card PHYs segments. The company expects over 50% revenue growth from fiscal year 2025 to 2026, with operating expenses growing at half the rate of revenue. Credo is expanding into AI connectivity and PCIe retimers markets, positioning itself well in the high-speed connectivity sector. The company’s strategic focus on system-level solutions across Ethernet, optical, and PCIe markets is noted as a key factor in its competitive positioning.
Credo’s non-GAAP gross margin for the quarter was 63.8%, and it reported a non-GAAP operating margin of 31.4%. The company anticipates continued revenue growth in its AEC product line and has achieved volume production with three hyperscale customers, with two more in qualification. Analysts have expressed confidence in Credo’s growth trajectory, with the company on track to achieve significant revenue growth in the coming fiscal years.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.