SAN JOSE, CA—Pantas Sutardja, a director at Credo Technology Group Holding Ltd (NASDAQ:CRDO), recently sold shares in the company, according to a filing with the Securities and Exchange Commission. The transactions, which took place on November 1, involved the sale of a total of 1,875 ordinary shares, with prices ranging from $38.45 to $40.5258. The total value of these sales amounted to $74,693.
Following these transactions, Sutardja holds 5,920,910 shares in the company. The sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. This plan was adopted by Sutardja on June 26, 2024.
The transactions were executed in multiple trades, with the weighted average sale prices disclosed. Sutardja has committed to providing full details of the trades to the SEC, the issuer, or any security holder upon request.
In other recent news, Credo Technology Group Holding Ltd has been making significant strides in its operations and strategy. In a recent filing with the Securities and Exchange Commission, Credo Technology reported the outcomes of its 2024 Annual General Meeting, where shareholders approved key proposals, including the election of three Class III directors and the ratification of Ernst & Young LLP as the company's independent registered public accounting firm for the fiscal year ending May 3, 2025.
The company also unveiled its 800G ZeroFlap family of HiWire Active Electrical Cables, designed to support artificial intelligence backend networks. This development is part of Credo's strategy to meet the growing demand for higher bandwidth and energy efficiency in data infrastructure.
In terms of financial performance, Credo Technology reported robust Q1 2025 results, with revenues reaching $59.7 million and a non-GAAP gross margin of 62.9%, marking a substantial year-over-year revenue increase of 70%. This strong performance was primarily driven by expanding AI deployments.
Analysts from firms such as TD Cowen, Craig-Hallum, and Needham have maintained a Buy rating for Credo Technology, reflecting confidence in the company's revenue growth trajectory. These firms anticipate a significant increase in revenue in the second half of fiscal year 2025, driven by accelerating ASIC revenue from multiple hyperscaler customers.
InvestingPro Insights
Credo Technology Group Holding Ltd (NASDAQ:CRDO) has been experiencing significant market momentum, as evidenced by its strong performance metrics. According to InvestingPro data, the company's stock has shown impressive returns, with a 169.83% price total return over the past year and a substantial 133.24% return over the last six months. This aligns with the InvestingPro Tip indicating a "High return over the last year."
The company's financial health appears robust, with InvestingPro Tips highlighting that "Liquid assets exceed short term obligations" and it "Operates with a moderate level of debt." These factors may contribute to investor confidence, despite the recent insider sale by director Pantas Sutardja.
Credo's growth prospects also seem promising. An InvestingPro Tip notes that "Analysts anticipate sales growth in the current year," which is supported by the reported revenue growth of 25.9% in the last twelve months. Additionally, the company boasts "Impressive gross profit margins," with data showing a gross profit margin of 62.47% for the same period.
It's worth noting that while Credo is currently trading near its 52-week high, with the stock price at 97.41% of its peak, analysts still see potential upside. The fair value based on analyst targets is $38, suggesting continued optimism about the company's prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for Credo Technology Group Holding Ltd, providing a deeper insight into the company's financial position and market performance.
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