Nucor earnings beat by $0.08, revenue fell short of estimates
Credo Technology Group Holding Ltd (NASDAQ:CRDO), a technology company with a market capitalization of $7.31 billion and impressive gross profit margins of 63.7%, saw its Chief Financial Officer Daniel W. Fleming recently sell a batch of company shares, according to a regulatory filing. On March 6, Fleming sold a total of 16,288 ordinary shares at prices ranging from $42.81 to $43.27 per share, amounting to a total transaction value of approximately $697,550. According to InvestingPro data, the stock has shown significant volatility recently, with the current price at $39.45. Following these transactions, Fleming holds 617,312 shares in the company. The sales were conducted under a pre-arranged trading plan established on July 1, 2024. InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 7.67, suggesting robust liquidity. For deeper insights into CRDO’s valuation and 20+ additional exclusive ProTips, explore the comprehensive Pro Research Report available on 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, which exceeded the anticipated $120.29 million and represented a 154% year-over-year increase. The company’s earnings per share (EPS) also surpassed expectations, coming in at $0.25 compared to the forecast of $0.18. Stifel analysts maintained a Buy rating for Credo, setting a price target of $85, following the company’s impressive financial performance and revenue growth. Credo’s non-GAAP gross margin was reported at 63.8%, while the non-GAAP operating margin increased to 31.4% from 11.5% in the previous quarter.
The company’s forecast for the fourth quarter projects revenue between $155 million and $165 million, indicating continued growth. Credo is also expanding its market presence by entering the AI connectivity and PCIe retimers markets. The company anticipates over 50% revenue growth from fiscal year 2025 to 2026, with operating expenses expected to grow at half the rate of revenue. Analysts at Stifel have expressed optimism about Credo’s growth trajectory, with expectations of more than 50% year-over-year revenue growth in fiscal year 2026. These developments reflect Credo’s strategic focus on system-level solutions across Ethernet, optical, and PCIe markets.
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