Credo Technology Group’s (NASDAQ:CRDO – Get Rating) lock-up period is scheduled to end on Tuesday, July 26. Credo Technology Group had issued 20,000,000 shares in its public offering on January 27. The total offer size was $200,000,000 based on an initial share price of $10.00. Company shares held by major shareholders and company insiders will be eligible for trading after the lock-up period expires.
A Wall Street analyst gives his opinion
Several research firms weighed on the CRDO. Bank of America cut its price target on Credo Technology Group from $17.00 to $15.00 and set a “buy” rating for the company in a Wednesday, June 29 report. Needham & Company LLC lowered its price target on Credo Technology Group from $20.00 to $15.00 and set a “buy” rating for the company in a Thursday, June 2 report. Stifel Nicolaus lowered his price target on Credo Technology Group to $19.00 and set a “buy” rating for the company in a Wednesday, April 13 report. Goldman Sachs Group lowered its target price on Credo Technology Group from $21.00 to $19.00 in a report on Friday. Finally, Mizuho lowered its price target on Credo Technology Group from $21.00 to $20.00 and set a “buy” rating for the company in a Tuesday, April 26 report. Eight investment analysts rated the stock with a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $19.00.
Credo Technology Group Price Performance
CRDO opened at $11.04 on Tuesday. The firm’s fifty-day simple moving average is $11.33. Credo Technology Group has a 52 week low of $8.61 and a 52 week high of $18.00.
Credo Technology Group (NASDAQ:CRDO – Get Rating) last released quarterly earnings data on Wednesday, June 1. The company reported earnings per share (EPS) of $0.02 for the quarter, beating consensus analyst estimates of $0.01 by $0.01. The company posted revenue of $37.53 million for the quarter, compared to $36.35 million expected by analysts. The company’s quarterly revenue increased 90.0% year over year. As a group, research analysts expect Credo Technology Group to post 0.16 earnings per share for the current fiscal year.
Institutional investors weigh on Credo Technology Group
Institutional investors and hedge funds have recently been buying and selling shares of the company. Royal Bank of Canada acquired a new stake in Credo Technology Group during the 1st quarter for a value of $26,000. Ameritas Investment Partners Inc. bought a new stock position in Credo Technology Group in Q1 worth $26,000. UBS Group AG bought a new stock position in Credo Technology Group in Q1 worth $69,000. Strs Ohio bought a new position in shares of Credo Technology Group in Q1 worth $79,000. Finally, Bank of America Corp DE bought a new position in shares of Credo Technology Group in Q1 worth $135,000. 0.37% of the shares are held by institutional investors.
Credo Technology Group Company Profile
(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, Mainland China, Hong Kong and internationally. Its products include integrated circuits, active power cables and SerDes chips based on its serializer/deserializer and digital signal processor technologies.
Receive daily news and reviews for Credo Technology Group – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Credo Technology Group and related companies with MarketBeat.com’s free daily email newsletter.