DoD tests AI models that make it easy to switch from vendors like Palantir
Cheng Chi Fung, Chief Technology Officer at Credo Technology Group Holding Ltd (NASDAQ:CRDO), recently sold shares totaling approximately $2.13 million, according to a regulatory filing. The transaction comes as the company’s stock has delivered an impressive 80.6% return over the past year, with the current market capitalization standing at $6.57 billion. The transactions, executed on April 10, 2025, were completed at prices ranging from $38.1046 to $40.805 per share. The sales were conducted under a Rule 10b5-1 trading plan established by the Cheng Huang Family Trust. Following these transactions, Cheng Chi Fung retains ownership of 7,883,602 shares through the trust. According to InvestingPro analysis, the stock is currently trading above its Fair Value, with strong fundamentals including a 63.71% gross profit margin. For deeper insights into CRDO’s valuation and 18 additional ProTips, including detailed insider trading analysis, consider accessing the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Credo Technology Group Holding Ltd reported impressive financial results for the third quarter of fiscal year 2025. The company posted an earnings per share (EPS) of $0.25, surpassing market expectations of $0.18, and achieved revenue of $135 million, exceeding the anticipated $120.29 million. Stifel analysts maintained a Buy rating for Credo Technology, highlighting the company’s strong performance and raising their revenue outlook for the April quarter to a midpoint of $160 million, which represents an 18.5% sequential growth. In addition to its financial achievements, Credo Technology announced a significant reshuffle in its board of directors, appointing William J. Brennan as the new chairman and electing Fariba Danesh as a Class II director. Danesh will also serve on the Audit Committee and the Nominating and Corporate Governance Committee. Cantor Fitzgerald included Credo Technology among the top-performing companies in the semiconductor sector, reinforcing a positive outlook for the industry. The firm’s report emphasized the sector’s resilience and potential catalysts, such as upcoming events and earnings reports, that could impact investor sentiment. These developments indicate Credo Technology’s strong position in the competitive semiconductor landscape.
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