Credo Technology Group (CRDO) to Release Quarterly Earnings on Tuesday

Credo Technology Group (NASDAQ:CRDO) is expected to announce its earnings results after the market closes on Tuesday, March 4th. Analysts expect the company to announce earnings of $0.18 per share and revenue of $120.36 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Credo Technology Group Stock Up 4.9 %

NASDAQ:CRDO opened at $55.18 on Friday. The stock’s 50-day simple moving average is $71.00 and its 200 day simple moving average is $51.57. The firm has a market capitalization of $9.23 billion, a PE ratio of -367.87 and a beta of 2.09. Credo Technology Group has a twelve month low of $16.82 and a twelve month high of $86.69.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the sale, the director now directly owns 5,902,402 shares in the company, valued at $395,224,837.92. The trade was a 0.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $80.59, for a total value of $805,900.00. Following the completion of the sale, the chief operating officer now owns 2,825,621 shares in the company, valued at approximately $227,716,796.39. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,405,679 shares of company stock valued at $95,975,242. Company insiders own 16.04% of the company’s stock.

Wall Street Analyst Weigh In

CRDO has been the topic of a number of recent research reports. Craig Hallum lifted their price target on Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Mizuho lifted their price target on Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Stifel Nicolaus raised their price objective on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Barclays raised their price objective on Credo Technology Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group raised their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.40.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.