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Credo Technology Group Holding Ltd (NASDAQ:CRDO) Chief Technology Officer Cheng Chi Fung sold a total of 57,620 ordinary shares on June 23, 2025, according to a recent SEC Form 4 filing. The sales, executed under a Rule 10b5-1 trading plan, resulted in total proceeds of $4,640,177. The timing is notable as the stock trades near its 52-week high of $92.20, having delivered an impressive 210% return over the past year. According to InvestingPro analysis, the stock appears overvalued at current levels.
The transactions occurred in multiple trades with prices ranging from $82.8256 to $85.4461 per share. Specifically, the sales comprised of four separate transactions: 4,500 shares were sold at a weighted average price of $82.8256, 12,305 shares at $83.9539, 35,993 shares at $84.6347, and 2,202 shares at $85.4461. With a market capitalization of $15.6 billion and a "GREAT" financial health score from InvestingPro, Credo Technology continues to demonstrate strong fundamentals despite its rich valuation.
Following these transactions, Cheng Chi Fung, through the Cheng Huang Family Trust, indirectly holds 7,438,961 ordinary shares. Additionally, Cheng directly holds 119,350 ordinary shares. For deeper insights into Credo’s valuation metrics and 23 additional exclusive ProTips, visit InvestingPro.
In other recent news, Credo Technology Group has been the focus of several analyst updates, reflecting its strong financial performance and growth potential. The company reported a 25.9% quarter-over-quarter increase in revenue, which exceeded previous estimates by 6.3%, and a non-GAAP earnings per share of $0.35, surpassing expectations by $0.08. Credo Technology’s revenue guidance for fiscal year 2026 is projected to exceed $800 million, marking an 85% year-over-year increase, supported by the ramp-up of its Application Engineered Chip (AEC) program and new product advancements.
Analyst firms have responded positively to these developments. TD Cowen raised its price target for Credo to $95, citing significant growth potential in AI applications and datacenter connectivity. Stifel also increased its target to $80, maintaining a Buy rating due to the company’s leadership in AI and data center connectivity. Meanwhile, Needham adjusted its target to $85, following Credo’s robust performance and improved customer diversification.
Noble Capital reiterated an Outperform rating with a price target of $14, highlighting Credo’s valuation as compelling compared to industry peers. The firm’s valuation strategy aims to align with the industry’s average, indicating a positive outlook. These updates underscore Credo Technology’s strong market position and potential for continued growth in the semiconductor sector.
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