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

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Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) earned an average recommendation of “Buy” from the nine analysts who currently cover the company, MarketBeat Ratings reports. Eight analysts rated the stock with a buy rating. The 12-month average price target among analysts who have covered the stock over the past year is $19.89.

Several analysts have published reports on the company. Cowen raised its price target on Credo Technology Group from $19.00 to $20.00 and gave the company an “outperform” rating in a Thursday, March 10 research note. Goldman Sachs Group assumed cover for Credo Technology Group in a research note on Tuesday, February 22. They issued a “buy” rating and a price target of $23.00 on the stock. Bank of America assumed cover for Credo Technology Group in a Tuesday, Feb. 22, research note. They issued a “buy” rating and a price target of $20.00 on the stock. Roth Capital raised its price target on Credo Technology Group from $20.00 to $25.00 in a Thursday, March 10 research note. Finally, Stifel Nicolaus lowered his price target on Credo Technology Group to $19.00 and set a “buy” rating on the stock in a Wednesday, April 13 research report.

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:CRDO – Get Rating) last reported results on Wednesday, March 9. The company reported earnings per share (EPS) of $0.03 for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company posted revenue of $31.80 million for the quarter, versus a consensus estimate of $29.60 million. On average, analysts expect Credo Technology Group to post -0.11 EPS for the current fiscal year.

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

About Credo Technology Group (Get an assessment)

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 globally. Its products include integrated circuits, active power cables and SerDes chips based on its serializer/deserializer and digital signal processor technologies.

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Analyst Recommendations for Credo Technology Group (NASDAQ: CRDO)



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