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Daniel W. Fleming, the Chief Financial Officer of Credo Technology Group Holding Ltd (NASDAQ:CRDO), recently made a significant move by selling a portion of his holdings in the company. According to a Form 4 filing submitted to the Securities and Exchange Commission, Fleming sold a total of 3,790 ordinary shares on April 11, 2025. The shares were sold at a weighted average price of $40.7528, amounting to a total transaction value of $154,453. The transaction comes as Credo trades at elevated multiples, with InvestingPro data showing a P/E ratio of 1,406x and an EV/EBITDA of 442x.
This transaction was executed as part of a pre-established Rule 10b5-1 trading plan, which Fleming adopted on July 1, 2024. Such plans allow company insiders to set up a predetermined schedule for selling stocks, helping to avoid any potential accusations of insider trading. Despite recent stock volatility, Credo has demonstrated impressive performance, with InvestingPro data showing a 101.5% return over the past year and strong gross profit margins of 63.7%.
Following this sale, Fleming retains ownership of 608,602 shares in Credo Technology. The sale was executed through multiple trades, with prices ranging from $40.05 to $41.01, as per the filing’s footnotes. Fleming has committed to providing detailed information regarding the specific prices and number of shares sold upon request to the SEC, the company, or its shareholders. Looking ahead, analysts maintain a bullish outlook on Credo, with nine analysts recently revising their earnings estimates upward. For deeper insights into Credo’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes over 20 additional key metrics and analysis.
In other recent news, Credo Technology Group Holding Ltd has reported impressive financial results for the third quarter of fiscal year 2025. The company posted an earnings per share (EPS) of $0.25, surpassing the forecast of $0.18, and achieved revenue of $135 million, which exceeded expectations by $14.71 million. This represents a 154% year-over-year increase in revenue. Furthermore, Stifel analysts maintained a Buy rating for Credo Technology, with a price target of $85.00, citing the company’s strong financial performance and robust supply chain management.
Credo Technology also announced significant changes to its board of directors, with William J. Brennan, the company’s CEO and President, appointed as the new chairman. Fariba Danesh was elected as a Class II director, filling the vacancy left by David Zinsner, who stepped down from the board. Additionally, Cantor Fitzgerald highlighted Credo Technology as one of the top-performing companies in the semiconductor sector, alongside Intel (NASDAQ:INTC) and Western Digital (NASDAQ:WDC).
The recent developments indicate Credo Technology’s strong position in the semiconductor market, with a focus on high-speed connectivity and AI infrastructure. Looking ahead, the company projects revenue growth of over 50% from fiscal year 2025 to 2026, driven by its Advanced Electronic Components program and other major product segments. The firm’s strategic initiatives and board reshuffle are seen as steps to further strengthen its leadership and competitive edge in the industry.
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