<div id="readability-page-1"><p>Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) was down 7.2% on Wednesday after an insider sold shares in the company. The company traded as low as $155.50 and last traded at $157.98. Approximately 8,908,773 shares were traded  during mid-day trading, an increase of 61% from the average daily volume of 5,544,312 shares. The stock had previously closed at $170.29.</p><div><p><span></span><span>Get <strong>Credo Technology Group</strong> alerts:</span></p></div><ul><li>Credo Technologies Posted a Blowout Quarter—Here's What's Next</li></ul><p>Specifically,  Director Sylvia Acevedo sold 1,875 shares of the business's stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $185.17, for a total value of $347,193.75. Following the completion of the sale, the director owned 21,098 shares of the company's stock, valued at $3,906,716.66. The trade was a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. </p><h2>Wall Street Analysts Forecast Growth</h2><p>Several research analysts have recently commented on CRDO shares. New Street Research  set a $240.00 target price on shares of Credo Technology Group in a report on Tuesday, December 2nd. KGI Securities upgraded Credo Technology Group from a &#34;hold&#34; rating to an &#34;outperform&#34; rating and set a $230.00 price objective on the stock in a research note on Tuesday, December 2nd. Needham &amp; Company LLC lifted their price objective on Credo Technology Group from $190.00 to $220.00 and gave the company a &#34;buy&#34; rating in a report on Tuesday, December 2nd. Zacks Research raised Credo Technology Group from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a report on Thursday, December 4th. Finally, Wall Street Zen raised Credo Technology Group from a &#34;hold&#34; rating to a &#34;buy&#34; rating in a research note on Sunday, September 28th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one  has given a Hold rating to the company. According to data from MarketBeat.com, Credo Technology Group  has an average rating of &#34;Buy&#34; and an average target price of $206.85.</p><ul><li>3 Under-the-Radar Stocks Set to Benefit From Oracle’s Boom</li></ul><p><b>Read Our Latest Report on CRDO</b></p><h2>Credo Technology Group Trading Down 7.2%</h2><p>The firm has a 50-day moving average of $156.37 and a two-hundred day moving average of $125.78. The firm has a market capitalization of $28.54 billion, a P/E ratio of 138.58 and a beta of 2.63. </p><ul><li>A New All-Time High Is Coming Soon for Credo Technology Group</li></ul><p>Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.49 by $0.18. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The firm had revenue of $268.03 million during the quarter, compared to the consensus estimate of $234.99 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The business's quarterly revenue was up 272.1% on a year-over-year basis.  On average, sell-side analysts anticipate that  Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year. </p><h2>Institutional Trading of Credo Technology Group</h2><p>A number of hedge funds have recently added to or reduced their stakes in the stock. Swiss Life Asset Management Ltd grew its stake in shares of  Credo Technology Group by 75.9% during the third quarter. Swiss Life Asset Management Ltd now owns 7,014 shares of the company's stock worth $1,021,000 after buying an additional 3,027 shares during the last quarter.  CIBC Private Wealth Group LLC lifted its stake in shares of  Credo Technology Group by 14.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 861 shares of the company's stock valued at $125,000 after acquiring an additional 111 shares during the last quarter.  CIBC Bancorp USA Inc. acquired a new stake in shares of  Credo Technology Group during the 3rd quarter valued at $2,301,000.  WBI Investments LLC bought a new stake in  Credo Technology Group during the 3rd quarter worth $451,000.  Finally, Coldstream Capital Management Inc. bought a new stake in  Credo Technology Group during the 3rd quarter worth $303,000. Institutional investors and hedge funds own  80.46% of the company's stock. </p><h2>About Credo Technology Group</h2> (Get Free Report)<p>Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.</p><h2>See Also</h2><ul><li>Five stocks we like better than Credo Technology Group</li><li>How to Read Stock Charts for Beginners</li><li>The Top 3 Investment Themes That Will Dominate 2026</li><li>3 Small Caps With Big Return Potential</li><li>Vertical’s Valo Launch: A Commercial Leap Disguised as a Dip</li><li>Value Investing: Is it a Good Strategy in 2022? <span>Hint: Always<span></span></span></li><li> Dividend Stocks for 2026: Where to Invest as the Market Cools</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Credo Technology Group Right Now?</h2><p>Before you consider Credo Technology Group, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credo Technology Group wasn't on the list.</p><p>While Credo Technology Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

CRDO

<p>Credo Technology Group's stock (NASDAQ:CRDO) fell 7.2% after insider Sylvia Acevedo sold 1,875 shares. The stock traded as low as $155.50, with a significant increase in trading volume. Despite the drop, analysts maintain a positive outlook, with several upgrading their ratings and setting higher target prices. The company recently reported strong quarterly earnings, exceeding expectations with a 272.1% year-over-year revenue increase.</p>

Credo Technology Group (NASDAQ:CRDO) Trading Down 7.2% After Insider Selling