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SAN JOSE, CA—Cheng Chi Fung, Chief Technology Officer of Credo Technology Group Holding Ltd (NASDAQ:CRDO), recently sold a significant portion of his holdings in the company. According to an SEC filing, Cheng sold a total of 55,000 ordinary shares on April 28, 2025, under a pre-established Rule 10b5-1 trading plan. The sales took place at prices ranging from $42.46 to $43.23 per share, amounting to a total transaction value of approximately $2.36 million. The transaction occurs as CRDO shares have delivered an impressive 141.8% return over the past year, with the company maintaining strong financial health according to InvestingPro analysis.
Post-transaction, Cheng holds 7,718,602 shares indirectly through the Cheng Huang Family Trust, where he, his spouse, and their children are beneficiaries. Additionally, Cheng retains direct ownership of 121,810 ordinary shares. These transactions reflect a strategic move within the framework of a trading plan adopted in September 2024. The $7.34 billion market cap company maintains impressive gross profit margins of 63.71% and shows strong operational efficiency. For deeper insights into CRDO’s valuation and financial metrics, including exclusive ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, Credo Technology Group Holding Ltd. reported impressive financial performance for the January quarter, with revenue reaching $135.0 million, an 87.4% increase quarter-over-quarter and surpassing Stifel’s estimate by 12.5%. The company’s non-GAAP earnings per share were $0.16, exceeding Stifel’s forecast by $0.07. Credo Technology also raised its outlook for the April quarter, projecting a revenue midpoint of $160.0 million, which represents an 18.5% sequential growth. Stifel maintained a Buy rating on Credo Technology, though they adjusted the price target to $69 from the previous $85, reflecting revised market conditions. Meanwhile, the company announced significant changes to its board, appointing William J. Brennan as the new chairman and Fariba Danesh as a Class II director. Danesh brings over three decades of experience in the technology sector. Cantor Fitzgerald highlighted Credo Technology as one of the top-performing companies in the semiconductor sector, despite a modest decline in the Semiconductor Index. These developments indicate ongoing investor interest and strategic shifts within Credo Technology.
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