Strs Ohio acquired a new stake in Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) in the first quarter, reports Holdings Channel.com. The company acquired 5,200 shares of the company, valued at approximately $79,000.
Credo Technology Group Price Performance
Shares of CRDO opened at $12.01 on Thursday. The company has a fifty-day moving average of $11.45. Credo Technology Group Holding Ltd 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 the consensus estimate of $0.01 by $0.01. The company posted revenue of $37.53 million for the quarter, versus analyst estimates of $36.35 million. The company’s quarterly revenue increased by 90.0% compared to the same quarter last year. On average, sell-side analysts expect Credo Technology Group Holding Ltd to post an EPS of 0.16 for the current financial year.
Analyst upgrades and downgrades
Several analysts have recently released reports on CRDO shares. Goldman Sachs Group lowered its price target on shares of Credo Technology Group from $21.00 to $19.00 in a Friday, July 15 research report. Needham & Company LLC cut its target price on Credo Technology Group from $20.00 to $15.00 and set a “buy” rating on the stock in a Thursday, June 2 research report. Bank of America lowered 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 research report. Mizuho lowered its price target on Credo Technology Group from $21.00 to $20.00 and set a “buy” rating on the stock in a Tuesday, April 26 report. Finally, Stifel Nicolaus lowered his price target on Credo Technology Group shares to $19.00 and set a “buy” rating for the company in a Wednesday, April 13 report. Eight equity research analysts rated the stock with a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $19.00.
Credo Technology Group Profile
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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.
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