Stock analysts are predicting that Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) will post earnings of $0.01 per share for the current quarter, according to Zacks. Two analysts have made earnings estimates for Credo Technology Group. The highest EPS estimate is $0.02 and the lowest is $0.01. The company is expected to announce its next quarterly earnings report after the market closes on Monday, January 1.
On average, analysts expect Credo Technology Group to report full year earnings of ($0.11) per share for the current fiscal year, with EPS estimates ranging from ($0.16) to ( $0.08). For the next fiscal year, analysts expect the company to post earnings of $0.15 per share, with EPS estimates ranging from $0.14 to $0.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts who track Credo Technology Group.
Credo Technology Group (NASDAQ:CRDO – Get Rating) last reported results on Wednesday, March 9. The company reported earnings per share of $0.03 for the quarter, beating analyst consensus estimates of ($0.01) by $0.04. The company posted revenue of $31.80 million in the quarter, versus analyst estimates of $29.60 million.
A number of research firms have recently published reports on CRDO. Cowen raised its target price on Credo Technology Group from $19.00 to $20.00 and gave the company an “outperform” rating in a Thursday, March 10 report. Stifel Nicolaus lowered his price target on Credo Technology Group shares to $19.00 and set a “buy” rating on the stock in a Wednesday, April 13 research report. Bank of America launched a hedge on shares of Credo Technology Group in a research report on Tuesday, February 22. They set a “buy” rating and a target price of $20.00 on the stock. Mizuho lowered its price target on Credo Technology Group shares from $21.00 to $20.00 and set a “buy” rating on the stock in a Tuesday, April 26 research report. Finally, Craig Hallum began covering shares of Credo Technology Group in a research note on Tuesday, February 22. They issued a “buy” rating and a target price of $19.00 for the company. One research analyst has rated the stock with a hold rating and eight have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $19.89.
Shares of NASDAQ:CRDO rose $0.67 on Friday, hitting $10.13. 383,597 shares of the company were traded, against an average volume of 417,025. Credo Technology Group has a fifty-two week low of $8.61 and a fifty-two week high of $18.00. The company has a 50-day simple moving average of $12.75.
A number of institutional investors and hedge funds have recently bought and sold shares of CRDO. Ameritas Investment Partners Inc. acquired a new stake in Credo Technology Group in Q1 valued at $26,000. Strs Ohio purchased a new stake in Credo Technology Group during Q1 worth approximately $79,000. American International Group Inc. acquired a new stock position in Credo Technology Group during Q1 worth approximately $167,000. JPMorgan Chase & Co. acquired a new position in shares of Credo Technology Group during Q1 worth approximately $205,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Credo Technology Group during the 1st quarter with a value of approximately $265,000. 0.37% of the shares are currently held by institutional investors and hedge funds.
Credo Technology Group Company Profile (Get a 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 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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