From Investing.com: 2024-09-16 21:11:58

In a recent transaction, Lam Yat Tung, COO of Credo Technology (NASDAQ:), sold 10,000 shares for over $276,000 on Sept 12, 2024. Sales were made under Rule 10b5-1 trading plan adopted in 2023 to defend against insider trading claims. Lam’s direct ownership reduced to 2,885,840 shares after multiple trades at varied prices.

Credo Technology reported strong Q1 2025 revenues of $59.7M with a non-GAAP gross margin of 62.9%. Year-over-year revenue increased by 70% due to expanding AI deployments. The company plans to enter the 64 gig PAM4 PCIe Gen 6 market to meet growing demand for higher bandwidth driven by AI applications. Analysts have reaffirmed Buy ratings with price targets.

InvestingPro Insights delve into Credo Technology’s financial health and stock performance. With a market cap of $4.73 billion and a gross profit margin of 62.47%, Credo demonstrates strong cost control relative to revenue. Despite a negative P/E ratio, significant revenue growth in Q1 2025 and a price total return of 90.57% may indicate future profitability and success.

For those considering investment in Credo Technology, two InvestingPro Tips highlight the company’s favorable balance sheet with more cash than debt, offering financial stability and flexibility. Analysts predict sales growth in the current year, which could positively influence stock price. For additional tips and insights, investors can access 15 more on InvestingPro to make informed decisions.



Read more at Investing.com: Credo Technology COO sells over $276k in company stock By Investing.com