Credo Technology Group Holding Ltd (NASDAQ:CRDO) Receives Average Rating of “Buy” from Analysts

Credo Technology Group Holding Ltd (NASDAQ:CRDOGet Rating) has earned an average recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.89.

Several analysts have issued reports on the company. Cowen upped their price objective on Credo Technology Group from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, March 10th. The Goldman Sachs Group assumed coverage on Credo Technology Group in a research note on Tuesday, February 22nd. They issued a “buy” rating and a $23.00 price objective on the stock. Bank of America assumed coverage on Credo Technology Group in a research note on Tuesday, February 22nd. They issued a “buy” rating and a $20.00 price objective on the stock. Roth Capital upped their price objective on Credo Technology Group from $20.00 to $25.00 in a research note on Thursday, March 10th. Finally, Stifel Nicolaus decreased their target price on Credo Technology Group to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, April 13th.

CRDO opened at $10.71 on Friday. Credo Technology Group has a 52-week low of $10.43 and a 52-week high of $18.00. The stock’s 50-day moving average is $13.38.

Credo Technology Group (NASDAQ:CRDOGet Rating) last released its earnings results on Wednesday, March 9th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $31.80 million for the quarter, compared to the consensus estimate of $29.60 million. On average, analysts expect that Credo Technology Group will post -0.11 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of CRDO. Strs Ohio acquired a new stake in Credo Technology Group during the first quarter worth approximately $79,000. Granite Investment Partners LLC acquired a new stake in Credo Technology Group during the first quarter worth approximately $9,129,000. Envestnet Asset Management Inc. acquired a new stake in Credo Technology Group during the first quarter worth approximately $332,000. Finally, New York State Common Retirement Fund acquired a new stake in Credo Technology Group during the first quarter worth approximately $1,240,000. 0.37% of the stock is currently owned by institutional investors and hedge funds.

About Credo Technology Group (Get Rating)

Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Malaysia, 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.

Featured Articles

Analyst Recommendations for Credo Technology Group (NASDAQ:CRDO)

Receive News & Ratings for Credo Technology Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credo Technology Group and related companies with MarketBeat.com's FREE daily email newsletter.