Credo Technology’s chief legal officer sells $312,720 in shares

James Laufman, the Chief Legal Officer and Secretary of Credo Technology Group Holding Ltd (NASDAQ:CRDO), has recently sold 8,000 ordinary shares of the company. The transaction, which took place on April 14, was executed at a price of $39.09 per share, totaling approximately $312,720. According to InvestingPro data, the stock has shown significant volatility recently, with a -9.45% return over the past week, though maintaining an impressive 102% gain over the last year.

Following this sale, Laufman retains ownership of 271,725 shares in the semiconductor company. This recent transaction is part of the routine financial activities of company insiders, which are regularly disclosed to the public to ensure transparency and compliance with securities regulations. InvestingPro analysis indicates that Credo maintains strong financial health with a current ratio of 7.67 and operates with minimal debt. The company’s robust gross profit margin of 63.71% and expected sales growth this year suggest positive fundamental momentum. Discover more insights about CRDO and 1,400+ other stocks with InvestingPro’s comprehensive research reports.

In other recent news, Credo Technology Group Holding Ltd reported impressive financial results for the third quarter of fiscal year 2025, with earnings per share (EPS) of $0.25, surpassing the forecast of $0.18, and revenue reaching $135 million, exceeding the anticipated $120.29 million. This represents a 154% year-over-year revenue increase, highlighting Credo’s strong position in the semiconductor industry. Stifel analysts maintained their Buy rating on Credo, with an $85 price target, noting the company’s ability to manage high-volume orders and its robust supply chain. The firm’s positive outlook is supported by Credo’s impressive revenue growth and the potential for backend AI applications.

Additionally, Credo announced significant changes to its board of directors, including the appointment of William J. Brennan as the new chairman and Fariba Danesh as a Class II director, reflecting a strategic move to strengthen leadership. Meanwhile, Cantor Fitzgerald expressed a bullish outlook on several semiconductor stocks, including Credo Technology, emphasizing the sector’s performance and potential catalysts. These developments underscore Credo Technology’s ongoing efforts to navigate the competitive semiconductor landscape and its focus on innovation and growth.

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