Gold soars to record high over $3,900/oz amid yen slump, US rate cut bets
Credo Technology Group Holding Ltd (NASDAQ:CRDO) Chief Technology Officer Chi Fung Cheng, via the Cheng Huang Family Trust, sold 64,900 ordinary shares on September 29, 2025, for approximately $8.1 million. The sales were executed in multiple transactions with prices ranging from $146.1161 to $152.1524. The transaction comes as CRDO shares have surged nearly 386% over the past year, with the company maintaining impressive gross margins of 66% and earning a "GREAT" financial health rating from InvestingPro.
The sales were executed under a Rule 10b5-1 trading plan adopted by the Cheng Huang Family Trust on September 6, 2024. Following the transactions, the Cheng Huang Family Trust indirectly holds 6,888,961 ordinary shares. Cheng also directly holds 114,430 ordinary shares. For comprehensive insider trading analysis and 21 additional key insights about CRDO, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Credo Technology Group Holding Ltd has completed its acquisition of Hyperlume, Inc., a developer of MicroLED-based optical interconnect technology. The acquisition, estimated to cost between $40-50 million, was funded through a combination of shares and cash. This strategic move aims to enhance Credo’s high-speed connectivity solutions, particularly in AI-driven data infrastructure. Analysts have responded positively to these developments, with Stifel raising its price target for Credo to $160, maintaining a Buy rating, and TD Cowen also increasing its price target to $160, citing strong financial performance and an improved growth outlook for fiscal year 2026. Additionally, William Blair initiated coverage on Credo with an Outperform rating, highlighting the company’s expanding product portfolio, including its Ethernet AEC business and optics through Dove and Lark DSP chips. Credo has also introduced its new Bluebird Digital Signal Processor (DSP) designed for 1.6Tbps optical transceivers, which aims to address power consumption challenges. This development could potentially alleviate deployment constraints related to cooling and power delivery. These recent advancements underscore Credo’s commitment to innovation and growth in the semiconductor industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.