Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Free Report) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.38.
CRDO has been the subject of several research reports. Barclays upped their price target on shares of Credo Technology Group from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. TD Cowen upped their target price on shares of Credo Technology Group from $35.00 to $40.00 and gave the company a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus raised their price target on Credo Technology Group from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Bank of America reaffirmed an “underperform” rating and set a $22.00 price objective (up from $21.00) on shares of Credo Technology Group in a research note on Thursday, May 30th. Finally, Craig Hallum lifted their target price on Credo Technology Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, April 15th.
Check Out Our Latest Report on Credo Technology Group
Insider Transactions at Credo Technology Group
Institutional Trading of Credo Technology Group
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Credo Technology Group by 31.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,570,816 shares of the company’s stock worth $191,705,000 after buying an additional 2,993,303 shares during the last quarter. Jennison Associates LLC acquired a new position in Credo Technology Group during the fourth quarter worth about $45,362,000. Wellington Management Group LLP purchased a new stake in shares of Credo Technology Group in the fourth quarter valued at about $35,224,000. TimesSquare Capital Management LLC acquired a new stake in shares of Credo Technology Group in the first quarter valued at approximately $22,535,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Credo Technology Group by 290.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,184,344 shares of the company’s stock worth $25,096,000 after purchasing an additional 881,344 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
Credo Technology Group Stock Performance
Shares of CRDO stock opened at $27.38 on Tuesday. The stock’s 50-day moving average is $28.00 and its two-hundred day moving average is $23.06. Credo Technology Group has a 1 year low of $13.38 and a 1 year high of $33.96. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -152.11 and a beta of 2.24.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $60.78 million for the quarter, compared to analysts’ expectations of $60.50 million. Credo Technology Group had a negative return on equity of 4.51% and a negative net margin of 14.70%. As a group, research analysts predict that Credo Technology Group will post 0.07 EPS for the current year.
Credo Technology Group Company Profile
Credo Technology Group Holding Ltd provides various high-speed connectivCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, 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.
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