Streetbeat News

CRDO

Credo Technology Group Holding Ltd

Industry

Communication Equipment

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. 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.

Open

46.48

Mkt cap

8.3B

Volume

4.7M

High

49.20

P/E Ratio

1638.33

52-wk high

86.69

Low

46.22

Div yield

N/A

52-wk low

16.82

Credo Technology Group (CRDO) reported Q3 2024 adjusted EPS of $0.04, surpassing the $0.03 estimate, with sales of $53.06M beating the $52.04M estimate, despite a 2.23% decrease from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 9:22 pm

Numerous companies are scheduled to report their earnings on February 27, 2024, covering a wide range of industries from technology and healthcare to energy and financial services. The report includes a mix of expected quarterly losses and earnings, highlighting the diverse financial health and performance outlooks within the corporate landscape.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 10:01 am

Credo Technology Group (NASDAQ:CRDO) is scheduled to release its quarterly earnings report on February 27, 2024, with an estimated EPS of $0.03. Historical data shows mixed reactions to past earnings, with the last quarter's beat resulting in a 6.96% share price drop. Shares have risen 111.83% over the last 52 weeks, indicating a positive long-term outlook. Investors will be keen on both the earnings outcome and the company's future guidance.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 5:01 pm

Shares of tech sector companies are trading higher due to overall market strength, influenced by NVIDIA's strong Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:54 pm

Mizuho Securities has increased its price targets for Nvidia, AMD, Broadcom, and Credo Technology, citing the booming AI market expected to reach $400 billion by 2027. Nvidia, AMD, Broadcom, and Intel are projected to be major beneficiaries of this growth, with significant increases in their AI revenue forecasts. The analyst highlights strong demand for AI chips, tight supplies of Nvidia's H100 AI accelerator chipset, and anticipates further acceleration in demand in 2024. Nvidia's upcoming B100 launch is also seen positively for its 2024 guidance.

Portfolio Pulse from Shanthi Rexaline

February 13, 2024 | 5:25 pm

Mizuho analyst Vijay Rakesh maintains a Buy rating on Credo Technology Group (CRDO) and raises the price target from $25 to $28.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 5:07 pm

Credo Technology Group announced the expansion of its SerDes technology to TSMC N3 and N7/N6 processes, enhancing its programmable power versus channel reach performance. This development marks a significant step in Credo's offerings, potentially impacting its market position and partnerships.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 2:20 pm

Tech sector stocks are up due to positive consumer sentiment data and anticipation of future Federal Reserve rate cuts, indicating market optimism.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 8:38 pm

Six analysts have recently provided their ratings on Credo Technology Group (NASDAQ:CRDO), with all six maintaining a bullish stance. Over the past three months, there has been a positive shift in sentiment, with the average 12-month price target for CRDO increasing by 23.24% to $23.17. Analysts from firms including Needham, Goldman Sachs, Stifel, and Mizuho have raised their price targets, reflecting optimism about the company's prospects. Despite this, CRDO faces challenges with a -14.28% revenue decline, a net margin of -15.04%, and an ROA of -1.65%, indicating potential difficulties in profitability and asset utilization. However, a strong ROE of -1.9% and a low debt-to-equity ratio of 0.04 suggest effective use of equity and a healthy balance sheet.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 1:00 pm

Needham analyst Quinn Bolton has reiterated a Buy rating on Credo Technology Group (NASDAQ:CRDO) and maintained a $24 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 10:48 am

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