NASDAQ:CRDO

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

$18.08
+0.49 (+2.79%)
(As of 10:52 AM ET)
Today's Range
$17.94
$18.42
50-Day Range
$16.92
$23.27
52-Week Range
$7.20
$23.90
Volume
256,194 shs
Average Volume
2.14 million shs
Market Capitalization
$2.95 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$24.25

Credo Technology Group MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.63 Rating Score
Upside/​Downside
37.9% Upside
$24.25 Price Target
Short Interest
Bearish
8.77% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.85mentions of Credo Technology Group in the last 14 days
Based on 13 Articles This Week
Insider Trading
Selling Shares
$39.37 M Sold Last Quarter
Proj. Earnings Growth
Growing
From ($0.12) to $0.16 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.46 out of 5 stars

Business Services Sector

104th out of 306 stocks

Semiconductors & Related Devices Industry

38th out of 86 stocks

CRDO stock logo

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

CRDO Stock News Headlines

SHOCKING Crypto Leak…
A shocking leak has revealed tech giant Microsoft's plans to add crypto support to future products. If the plans in these leaked internal documents pan out, we could see prices skyrocket for Bitcoin, Ethereum, XRP and MORE… The coupling of gaming and cryptocurrency could absolutely transform digital finance as we know it in 2024.
SHOCKING Crypto Leak…
A shocking leak has revealed tech giant Microsoft's plans to add crypto support to future products. If the plans in these leaked internal documents pan out, we could see prices skyrocket for Bitcoin, Ethereum, XRP and MORE… The coupling of gaming and cryptocurrency could absolutely transform digital finance as we know it in 2024.
Credo Technology CEO sells shares worth over $660k
See More Headlines
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Company Calendar

Last Earnings
2/27/2024
Today
4/24/2024
Fiscal Year End
4/30/2024
Next Earnings (Estimated)
5/29/2024

Industry, Sector and Symbol

Industry
Semiconductors & related devices
Sub-Industry
N/A
Current Symbol
NASDAQ:CRDO
Fax
N/A
Employees
438
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$24.25
High Stock Price Target
$30.00
Low Stock Price Target
$16.00
Potential Upside/Downside
+37.9%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.63
Research Coverage
8 Analysts

Profitability

Net Income
$-16,550,000.00
Pretax Margin
-21.13%

Debt

Sales & Book Value

Annual Sales
$164.28 million
Book Value
$2.34 per share

Miscellaneous

Free Float
124,281,000
Market Cap
$2.87 billion
Optionable
Optionable
Beta
1.97
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Key Executives


CRDO Stock Analysis - Frequently Asked Questions

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

8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Credo Technology Group in the last year. There are currently 1 sell rating, 1 hold rating and 6 buy ratings for the stock. The consensus among Wall Street 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?

8 analysts have issued 12-month target prices for Credo Technology Group's shares. Their CRDO share price targets range from $16.00 to $30.00. On average, they expect the company's share price to reach $24.25 in the next twelve months. This suggests a possible upside of 37.9% from the stock's current price.
View analysts price targets for CRDO
or view top-rated stocks among Wall Street analysts.

How have CRDO shares performed in 2024?

Credo Technology Group's stock was trading at $19.47 at the start of the year. Since then, CRDO shares have decreased by 9.7% and is now trading at $17.59.
View the best growth stocks for 2024 here
.

Are investors shorting Credo Technology Group?

Credo Technology Group saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 11,040,000 shares, an increase of 10.5% from the March 15th total of 9,990,000 shares. Based on an average trading volume of 2,220,000 shares, the days-to-cover ratio is currently 5.0 days. Approximately 8.8% 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, May 29th 2024.
View our CRDO earnings forecast
.

How were Credo Technology Group's earnings last quarter?

Credo Technology Group Holding Ltd (NASDAQ:CRDO) announced its earnings results on Tuesday, February, 27th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $53.06 million for the quarter, compared to analyst estimates of $51.91 million. Credo Technology Group had a negative trailing twelve-month return on equity of 7.82% and a negative net margin of 20.59%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS.

What guidance has Credo Technology Group issued on next quarter's earnings?

Credo Technology Group issued an update on its fourth quarter 2024 earnings guidance on Tuesday, February, 27th. The company provided EPS guidance of for the period. The company issued revenue guidance of $59.0 million-$62.0 million, compared to the consensus revenue estimate of $59.8 million.

When did Credo Technology Group IPO?

Credo Technology Group (CRDO) raised $220 million in an initial public offering on Thursday, January 27th 2022. The company issued 20,000,000 shares at $10.00-$12.00 per share.

Who are Credo Technology Group's major shareholders?

Credo Technology Group's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include AMF Tjanstepension AB (1.05%), Allspring Global Investments Holdings LLC (0.22%), Diversified Trust Co (0.02%), Harbour Capital Advisors LLC (0.01%), Sumitomo Mitsui Trust Holdings Inc. (0.01%) and Counterpoint Mutual Funds LLC (0.01%). Insiders that own company stock include Adam Thorngate-Gottlund, Chi Fung Cheng, Daniel W Fleming, Lip Bu Tan, Pantas Sutardja, William Joseph Brennan, 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:CRDO) was last updated on 4/24/2024 by MarketBeat.com Staff

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