Should I buy or sell Credo Technology Group stock right now?

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Credo Technology Group in the last year. There are currently 1 sell rating, 3 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CRDO shares. View CRDO analyst ratings or view top-rated stocks .

What is Credo Technology Group's stock price target for 2024?

12 Wall Street research analysts have issued 1-year target prices for Credo Technology Group's shares. Their CRDO share price targets range from $11.00 to $24.00. On average, they predict the company's share price to reach $17.92 in the next twelve months. This suggests that the stock has a possible downside of 6.0%. View analysts price targets for CRDO or view top-rated stocks among Wall Street analysts .

How have CRDO shares performed in 2023?

Credo Technology Group's stock was trading at $13.31 at the start of the year. Since then, CRDO shares have increased by 43.3% and is now trading at $19.07. View the best growth stocks for 2023 here .

Are investors shorting Credo Technology Group?

Credo Technology Group saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 8,420,000 shares, an increase of 7.1% from the October 31st total of 7,860,000 shares. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 5.5 days. Approximately 7.8% of the company's shares are short sold. View Credo Technology Group's Short Interest .

When is Credo Technology Group's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, March 6th 2024. View our CRDO earnings forecast .

How were Credo Technology Group's earnings last quarter?

Credo Technology Group Holding Ltd (NASDAQ:CRDO) released its quarterly earnings data on Wednesday, November, 29th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business earned $44.04 million during the quarter, compared to analysts' expectations of $42.66 million. Credo Technology Group had a negative net margin of 19.00% and a negative trailing twelve-month return on equity of 7.98%. Credo Technology Group's quarterly revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share.

What ETFs hold Credo Technology Group's stock?

ETFs with the largest weight of Credo Technology Group (NASDAQ:CRDO) stock in their portfolio include SPDR S&P Semiconductor ETF (XSD) . BlackRock Future Tech ETF (BTEK) .

When did Credo Technology Group IPO?

(CRDO) raised $220 million in an IPO on Thursday, January 27th 2022. The company issued 20,000,000 shares at a price of $10.00-$12.00 per share.

Who are Credo Technology Group's major shareholders?

Credo Technology Group's stock is owned by a number of retail and institutional investors. Top institutional investors include JPMorgan Chase & Co. (5.80%), Principal Financial Group Inc. (1.05%), Assenagon Asset Management S.A. (0.90%), American Century Companies Inc. (0.88%), Morgan Stanley (0.80%) and Emerald Advisers LLC (0.74%). Insiders that own company stock include Adam Thorngate-Gottlund, Chi Fung Cheng, Daniel W Fleming, Lip Bu Tan, William Joseph Brennan and Yat Tung Lam. View institutional ownership trends .

How do I buy shares of Credo Technology Group?

Shares of CRDO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

Credo Technology Group Stock Price, News & Analysis (NASDAQ:CRDO)

$19.07

+1.16 (+6.48%)

(As of 12/1/2023 ET)

Compare

Today's Range: $17.59
▼
$19.26
50-Day Range: $13.60
▼
$19.33
52-Week Range: $7.20
▼
$19.46

Volume: 3.64 million shs
Average Volume: 1.83 million shs
Market Capitalization: $2.86 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $17.92

Credo Technology Group MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.58 Rating Score
Upside/Downside: 6.0% Downside
$17.92 Price Target
Short Interest: Bearish
7.81% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.52
Based on 27 Articles This Week
Insider Trading: Selling Shares
$11.66 M Sold Last Quarter
Proj. Earnings Growth: Growing
From ($0.15) to $0.12 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.66 out of 5 stars

Business Services Sector

249th out of 304 stocks

Semiconductors & Related Devices Industry

75th out of 88 stocks

2.3

Analyst's Opinion

Consensus Rating
Credo Technology Group has received a consensus rating of Moderate Buy. The company's average rating score is 2.58, and is based on 8 buy ratings, 3 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $17.92, Credo Technology Group has a forecasted downside of 6.0% from its current price of $19.07.
Amount of Analyst Coverage
Credo Technology Group has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

1.0

Short Interest

Percentage of Shares Shorted
7.81% of the float of Credo Technology Group has been sold short.
Short Interest Ratio / Days to Cover
Credo Technology Group has a short interest ratio ("days to cover") of 5.5.
Change versus previous month
Short interest in Credo Technology Group has recently increased by 7.12%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Credo Technology Group does not currently pay a dividend.
Dividend Growth
Credo Technology Group does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for CRDO.

2.5

News and Social Media Coverage

News Sentiment
Credo Technology Group has a news sentiment score of 0.52. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.66 average news sentiment score of Business Services companies.
News Coverage This Week
MarketBeat has tracked 27 news articles for Credo Technology Group this week, compared to 3 articles on an average week.
Search Interest
6 people have searched for CRDO on MarketBeat in the last 30 days. This is an increase of 500% compared to the previous 30 days.
MarketBeat Follows
Only 3 people have added Credo Technology Group to their MarketBeat watchlist in the last 30 days. This is a decrease of -25% compared to the previous 30 days.

3.3

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Credo Technology Group insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $11,658,030.00 in company stock.
Percentage Held by Insiders
23.89% of the stock of Credo Technology Group is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
54.44% of the stock of Credo Technology Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Credo Technology Group are expected to grow in the coming year, from ($0.15) to $0.12 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Credo Technology Group is -90.81, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Credo Technology Group is -90.81, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Credo Technology Group has a P/B Ratio of 8.15. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Credo Technology Group Stock (NASDAQ:CRDO)

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. The company also offers intellectual property solutions consist of SerDes IP licensing. It sells its products to hyperscalers, original equipment manufacturers, original design manufacturers and optical module manufacturers, as well as into the enterprise and HPC markets. The company was founded in 2008 and is headquartered in San Jose, California.ity solutions for optical and electrical Ethernet applications in the United States, Mexico, Mainland China, Hong Kong, and internationally. Its products include integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies. The company also offers intellectual property solutions consist of SerDes IP licensing. The company was founded in 2008 and is headquartered in San Jose, California.

CRDO Stock Price History

30 days | 90 days | 365 days | Advanced Chart

CRDO Stock News Headlines

December 3, 2023 | americanbankingnews.com

Credo Technology Group Holding Ltd (NASDAQ:CRDO) COO Yat Tung Lam Sells 390,000 Shares

December 2, 2023 | americanbankingnews.com

The Goldman Sachs Group Increases Credo Technology Group (NASDAQ:CRDO) Price Target to $23.00

December 3, 2023 | DTI Trader (Ad)

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December 2, 2023 | americanbankingnews.com

Credo Technology Group (NASDAQ:CRDO) PT Raised to $21.00 at Mizuho

December 2, 2023 | americanbankingnews.com

Credo Technology Group (NASDAQ:CRDO) PT Raised to $24.00

December 1, 2023 | markets.businessinsider.com

Credo Technology Group: Strong Market Position but Overvalued Stock with Rising Competitive Risks

December 1, 2023 | finance.yahoo.com

Credo Technology Group Holding Ltd (NASDAQ:CRDO) Q2 2024 Earnings Call Transcript

December 1, 2023 | americanbankingnews.com

Credo Technology Group (NASDAQ:CRDO) Given New $20.00 Price Target at TD Cowen

December 3, 2023 | DTI Trader (Ad)

New CBOE “special perk” helps traders target income every weekend

You might not immediately realize what you’re reading. Let me help you out a little… What you're looking at is a “special perk” set up by the Chicago Board of Options Exchange.

December 1, 2023 | americanbankingnews.com

Credo Technology Group (NASDAQ:CRDO) Price Target Raised to $24.00 at Needham & Company LLC

December 1, 2023 | markets.businessinsider.com

Analysts’ Top Technology Picks: Credo Technology Group Holding Ltd (CRDO), Nutanix (NTNX)

December 1, 2023 | markets.businessinsider.com

Stifel Nicolaus Keeps Their Buy Rating on Credo Technology Group Holding Ltd (CRDO)

November 30, 2023 | markets.businessinsider.com

Steady Performance with Cautious Outlook: Credo Technology Group Maintains Hold Rating

November 30, 2023 | finance.yahoo.com

Credo to Present at Barclays Global Technology Conference

November 29, 2023 | finance.yahoo.com

Credo Technology Group Holding Ltd Reports Second Quarter of Fiscal Year 2024 Financial Results

November 29, 2023 | finance.yahoo.com

Credo Introduces World’s First 800G DSP for Linear Receive Optics, Targeting Hyperscale and AI Data Centers

November 29, 2023 | finance.yahoo.com

Credo Technology Group Holding Ltd (CRDO) Reports Revenue Growth and Narrowed Net Loss in Q2 FY2024

November 28, 2023 | markets.businessinsider.com

Here's what to expect from Credo Technology Group's earnings

November 28, 2023 | finance.yahoo.com

Credo Releases Environmental, Social and Governance (ESG) Report for 2023

November 27, 2023 | americanbankingnews.com

Credo Technology Group (CRDO) to Release Earnings on Wednesday

November 24, 2023 | finance.yahoo.com

Is There An Opportunity With Credo Technology Group Holding Ltd's (NASDAQ:CRDO) 49% Undervaluation?

November 24, 2023 | benzinga.com

Credo Technology Group Stock (NASDAQ:CRDO) Dividends: History, Yield and Dates

November 23, 2023 | seekingalpha.com

Credo Technology: Expectations May Be Too High From Upcoming Q2 Report

November 8, 2023 | finance.yahoo.com

Credo Schedules Second Quarter Fiscal Year 2024 Financial Results Conference Call

October 16, 2023 | finance.yahoo.com

Credo to Showcase Datacenter AI, Compute and CXL at OCP Global Summit in San Jose

October 16, 2023 | finance.yahoo.com

Credo Introduces HiWire Pluggable Patch Panel(P3) To Support Coherent Optics & Core Switching Evolution

October 12, 2023 | finance.yahoo.com

Credo Joins with Industry Players to Announce Effort to Standardize CXL Active Electrical Cables & Optics at OCP Global Summit 2023

See More Headlines

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Company Calendar

Last Earnings: 11/29/2023
Today: 12/03/2023
Next Earnings (Estimated): 3/06/2024
Fiscal Year End: 4/30/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Semiconductors & related devices
Sub-Industry: N/A
Sector: Business Services
Current Symbol: NASDAQ:CRDO
CUSIP: N/A
CIK: 1807794
Web: www.credosemi.com
Phone: 408-664-9329
Fax: N/A
Employees: 438
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $17.92
High Stock Price Target: $24.00
Low Stock Price Target: $11.00
Potential Upside/Downside: -6.0%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.58
Research Coverage: 12 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.21)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-16,550,000.00
Net Margins: -19.00%
Pretax Margin: -17.19%
Return on Equity: -7.98%
Return on Assets: -6.92%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 10.27
Quick Ratio: 8.97

Sales & Book Value

Annual Sales: $184.19 million
Price / Sales: 15.53
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $2.34 per share
Price / Book: 8.15

Miscellaneous

Outstanding Shares: 150,030,000
Free Float: 114,187,000
Market Cap: $2.86 billion
Optionable: Not Optionable
Beta: 2.09

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Key Executives

Mr. William J. Brennan (Age 59)
President, CEO & Director
Comp: $857.5k
Mr. Chi Fung Cheng (Age 54)
Co-founder, CTO & Director
Comp: $535.21k
Mr. Yat Tung Lam (Age 56)
Co-founder, COO & Director
Comp: $458.75k
Mr. Daniel Fleming (Age 56)
Chief Financial Officer
Comp: $589.02k
Mr. Adam Thorngate-Gottlund (Age 41)
General Counsel & Secretary
Comp: $432.25k
Mr. Daniel J. O'Neil (Age 52)
Vice President of Corporate Development & Investor Relations
Mr. Michael Girvan Lampe
Vice President of Worldwide Sales
Mr. Scott Feller
Vice President of Marketing

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

CRDO Stock Analysis - Frequently Asked Questions

Should I buy or sell Credo Technology Group stock right now?: 12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Credo Technology Group in the last year. There are currently 1 sell rating, 3 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CRDO shares.
View CRDO analyst ratings or view top-rated stocks.
What is Credo Technology Group's stock price target for 2024?: 12 Wall Street research analysts have issued 1-year target prices for Credo Technology Group's shares. Their CRDO share price targets range from $11.00 to $24.00. On average, they predict the company's share price to reach $17.92 in the next twelve months. This suggests that the stock has a possible downside of 6.0%.
View analysts price targets for CRDO or view top-rated stocks among Wall Street analysts.
How have CRDO shares performed in 2023?: Credo Technology Group's stock was trading at $13.31 at the start of the year. Since then, CRDO shares have increased by 43.3% and is now trading at $19.07.
View the best growth stocks for 2023 here.
Are investors shorting Credo Technology Group?: Credo Technology Group saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 8,420,000 shares, an increase of 7.1% from the October 31st total of 7,860,000 shares. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is presently 5.5 days. Approximately 7.8% of the company's shares are short sold.
View Credo Technology Group's Short Interest.
When is Credo Technology Group's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, March 6th 2024.
View our CRDO earnings forecast.
How were Credo Technology Group's earnings last quarter?: Credo Technology Group Holding Ltd (NASDAQ:CRDO) released its quarterly earnings data on Wednesday, November, 29th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business earned $44.04 million during the quarter, compared to analysts' expectations of $42.66 million. Credo Technology Group had a negative net margin of 19.00% and a negative trailing twelve-month return on equity of 7.98%. Credo Technology Group's quarterly revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share.

What ETFs hold Credo Technology Group's stock?: ETFs with the largest weight of Credo Technology Group (NASDAQ:CRDO) stock in their portfolio include SPDR S&P Semiconductor ETF (XSD).BlackRock Future Tech ETF (BTEK).
When did Credo Technology Group IPO?: (CRDO) raised $220 million in an IPO on Thursday, January 27th 2022. The company issued 20,000,000 shares at a price of $10.00-$12.00 per share.
Who are Credo Technology Group's major shareholders?: Credo Technology Group's stock is owned by a number of retail and institutional investors. Top institutional investors include JPMorgan Chase & Co. (5.80%), Principal Financial Group Inc. (1.05%), Assenagon Asset Management S.A. (0.90%), American Century Companies Inc. (0.88%), Morgan Stanley (0.80%) and Emerald Advisers LLC (0.74%). Insiders that own company stock include Adam Thorngate-Gottlund, Chi Fung Cheng, Daniel W Fleming, Lip Bu Tan, William Joseph Brennan and Yat Tung Lam.
View institutional ownership trends.
How do I buy shares of Credo Technology Group?: Shares of CRDO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:CRDO) was last updated on 12/3/2023 by MarketBeat.com Staff

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Credo Technology Group Stock Price, News & Analysis (NASDAQ:CRDO)

Credo Technology Group MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Credo Technology Group Stock (NASDAQ:CRDO)

CRDO Stock Price History

CRDO Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders & Institutions

CRDO Stock Analysis - Frequently Asked Questions

Overall MarketRank^™