Credo Technology Group (CRDO) Projected to Post Earnings on Tuesday

Credo Technology Group (NASDAQ:CRDO - Get Free Report) is anticipated to issue its quarterly earnings data 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. Investors interested in listening to the company's conference call can do so using this link.

Credo Technology Group Stock Down 6.3 %

CRDO traded down $4.50 during trading hours on Friday, hitting $66.78. The stock had a trading volume of 4,173,687 shares, compared to its average volume of 5,220,462. Credo Technology Group has a 1 year low of $16.82 and a 1 year high of $86.69. The company's fifty day simple moving average is $72.26 and its 200 day simple moving average is $50.50. The stock has a market cap of $11.17 billion, a PE ratio of -445.20 and a beta of 2.09.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRDO shares. Susquehanna started coverage on shares of Credo Technology Group in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $80.00 price target on the stock. Mizuho boosted their target price on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, January 10th. The Goldman Sachs Group raised their price target on Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Needham & Company LLC increased their price objective on Credo Technology Group from $43.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, TD Cowen lifted their target price on Credo Technology Group from $45.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $76.40.

Insider Activity

In related news, CTO Chi Fung Cheng sold 55,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $48.57, for a total value of $2,671,350.00. Following the sale, the chief technology officer now directly owns 8,618,602 shares of the company's stock, valued at $418,605,499.14. This trade represents a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Yat Tung Lam sold 100,000 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $68.03, for a total transaction of $6,803,000.00. Following the completion of the transaction, the chief operating officer now directly owns 400,000 shares of the company's stock, valued at approximately $27,212,000. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,305,679 shares of company stock worth $89,862,242. 16.04% of the stock is currently owned by insiders.

About Credo Technology Group

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.