Nucor earnings beat by $0.08, revenue fell short of estimates
Cheng Chi Fung, the Chief Technology Officer of Credo Technology Group Holding Ltd (NASDAQ:CRDO), recently executed a series of stock sales amounting to a total of $2.15 million. The transactions, which took place on March 31, 2025, involved the sale of 55,000 ordinary shares at prices ranging from $38.09 to $40.04 per share. The stock, currently trading at $43.01, has demonstrated remarkable momentum with an 89% return over the past year, according to InvestingPro data. Following these transactions, Cheng Chi Fung retains ownership of 7,993,602 shares, held indirectly through the Cheng Huang Family Trust. These sales were conducted under a Rule 10b5-1 trading plan established on September 6, 2024. The company maintains strong financial health with a current ratio of 7.67 and operates with minimal debt. InvestingPro analysis indicates the stock is currently overvalued, with 20+ additional insights available to subscribers, including detailed valuation metrics and growth forecasts.
In other recent news, Credo Technology Group Holding Ltd reported robust financial results for the third quarter of fiscal year 2025, with revenue reaching $135 million, surpassing the anticipated $120.29 million. The company posted an earnings per share of $0.25, exceeding the forecast of $0.18, marking a 39% surprise. Credo’s revenue increased 154% year-over-year, demonstrating strong growth in the high-speed connectivity market. Stifel analysts maintained a Buy rating and an $85.00 price target, highlighting the company’s impressive financial performance and ability to manage high-volume orders. The firm anticipates that Credo is on track to achieve more than 50% year-over-year revenue growth in fiscal year 2026. Additionally, Credo Technology announced significant changes to its board of directors, with William J. Brennan appointed as the new chairman. Fariba Danesh was elected as a Class II director and will serve on the Audit Committee and the Nominating and Corporate Governance Committee. These developments come as the company continues to expand into AI connectivity and PCIe retimers markets.
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