Credo Technology Group (NASDAQ:CRDO – Get Rating) will be announcing its earnings results after the market closes on Wednesday, May 31st. Analysts expect the company to announce earnings of ($0.04) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.
Credo Technology Group (NASDAQ:CRDO – Get Rating) last issued its earnings results on Wednesday, March 1st. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Credo Technology Group had a positive return on equity of 2.80% and a negative net margin of 3.15%. The company had revenue of $54.27 million for the quarter, compared to analyst estimates of $52.00 million. On average, analysts expect Credo Technology Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Credo Technology Group Stock Up 2.4 %
Shares of NASDAQ:CRDO opened at $11.03 on Wednesday. Credo Technology Group has a twelve month low of $7.20 and a twelve month high of $19.46. The stock’s 50 day moving average is $8.66 and its 200-day moving average is $12.01. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -275.75 and a beta of 1.86.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in CRDO. Envestnet Asset Management Inc. bought a new position in shares of Credo Technology Group during the 1st quarter worth $332,000. JPMorgan Chase & Co. bought a new position in Credo Technology Group in the 1st quarter worth about $205,000. Bank of New York Mellon Corp bought a new position in Credo Technology Group in the 1st quarter worth about $1,748,000. BlackRock Inc. bought a new position in Credo Technology Group in the 1st quarter worth about $48,844,000. Finally, Vanguard Group Inc. bought a new position in Credo Technology Group in the 1st quarter worth about $29,191,000. Institutional investors own 40.46% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on CRDO shares. The Goldman Sachs Group lowered their price target on Credo Technology Group from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, February 15th. Bank of America lowered Credo Technology Group from a “buy” rating to an “underperform” rating and lowered their price target for the company from $18.00 to $12.00 in a research report on Wednesday, February 15th. Cowen lowered Credo Technology Group from an “outperform” rating to a “market perform” rating and set a $11.00 price target for the company. in a research report on Wednesday, February 15th. BNP Paribas started coverage on Credo Technology Group in a research report on Tuesday, February 28th. They issued an “outperform” rating and a $13.00 price target for the company. Finally, Roth Mkm lowered their price target on Credo Technology Group from $20.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, February 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.33.
Credo Technology Group Company Profile
Credo 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 integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.
- Get a free copy of the StockNews.com research report on Credo Technology Group (CRDO)
- Airline ETFs: What They Are and How to Invest
- Williams-Sonoma Is The Retail Value Play, Here’s Why
- Ladder Corporation: Climbing Higher And Paying 9% Yield
- Microbot Medical spikes 150% on its Endovascular Surgical Robot
- PetMed Express: Charts Say This Could Be The Bottom
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.