Nucor earnings beat by $0.08, revenue fell short of estimates
Cheng Chi Fung, the Chief Technology Officer at Credo Technology Group Holding Ltd (NASDAQ:CRDO), recently executed several significant stock sales. The transaction comes as the company’s stock has delivered an impressive 109.77% return over the past year, according to InvestingPro data. On March 10, Cheng sold a total of 54,000 ordinary shares of the company, amounting to approximately $2.19 million. The sales were completed at prices ranging from $39.34 to $42.22 per share. Following these transactions, Cheng holds a substantial number of shares indirectly through the Cheng Huang Family Trust, with a remaining balance of 8,158,602 shares. The sales were conducted under a pre-established Rule 10b5-1 trading plan. With a current market capitalization of $7.36 billion and trading above its Fair Value, investors can access comprehensive insider trading analysis and 20+ additional key insights through InvestingPro’s detailed research reports.
In other recent news, Credo Technology Group Holding Ltd. reported impressive financial results for the third quarter of fiscal year 2025, with revenue reaching $135 million, marking a 154% year-over-year increase. The company’s earnings per share (EPS) came in at $0.25, surpassing the forecasted $0.18. Credo’s robust performance was driven by its strong position in the high-speed connectivity market and strategic focus on AI connectivity and PCIe retimers. Following these results, Stifel analysts maintained a Buy rating on Credo, reiterating an $85 price target, noting the company’s ability to manage high-volume orders and maintain a robust supply chain.
Stifel’s analysis highlighted Credo’s potential for backend AI applications and projected revenue growth, anticipating more than 50% year-over-year growth in fiscal year 2026. Additionally, Credo’s non-GAAP gross margin improved to 63.8%, reflecting operational efficiency and scaling benefits. The company expects its fourth and fifth customers to begin their initial ramp by mid-fiscal year 2026, contributing to revenue growth. Credo’s strategic initiatives include expanding into the PCIe retimers and cables market, with a focus on AI infrastructure connectivity, signaling continued growth opportunities.
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