Credo Technology Group (CRDO) Stock Price, News & Analysis

Company Overview

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. The company also offers intellectual property solutions consist of SerDes IP licensing. It sells its products to hyperscalers, original equipment manufacturers, original design manufacturers and optical module manufacturers, as well as into the enterprise and HPC markets. The company was founded in 2008 and is based in Grand Cayman, Cayman Islands.

Key Stats

• Today's Range: $39.18 to $41.42
• 50-Day Range: $24.26 to $48.00
• 52-Week Range: $16.82 to $48.94
• Volume: 3.82 million shs
• Average Volume: 2.25 million shs
• Market Capitalization: $6.60 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $36.56
• Consensus Rating: Moderate Buy

Credo Technology Group Stock Analysis - MarketRank™

Credo Technology Group scored higher than 63% of companies evaluated by MarketBeat, and ranked 137th out of 336 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Credo Technology Group has received a consensus rating of Moderate Buy. The company's average rating score is 2.89, and is based on 7 buy ratings, no hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Credo Technology Group has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Credo Technology Group are expected to grow in the coming year, from ($0.02) to $0.37 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Credo Technology Group is -248.50, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Credo Technology Group is -248.50, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Credo Technology Group has a P/B Ratio of 12.01. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

4.44% of the float of Credo Technology Group has been sold short.

Short Interest Ratio / Days to Cover

Credo Technology Group has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Credo Technology Group has recently decreased by 14.55%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Credo Technology Group does not currently pay a dividend.

Dividend Growth

Credo Technology Group does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

4.44% of the float of Credo Technology Group has been sold short.

Short Interest Ratio / Days to Cover

Credo Technology Group has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Credo Technology Group has recently decreased by 14.55%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.2 / 5
• News Sentiment: 0.83

News Sentiment

Credo Technology Group has a news sentiment score of 0.83. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.61 average news sentiment score of Business Services companies.

News Coverage This Week

MarketBeat has tracked 9 news articles for Credo Technology Group this week, compared to 6 articles on an average week.

Search Interest

22 people have searched for CRDO on MarketBeat in the last 30 days. This is an increase of 69% compared to the previous 30 days.

MarketBeat Follows

Only 13 people have added Credo Technology Group to their MarketBeat watchlist in the last 30 days. This is a decrease of -19% compared to the previous 30 days.

Company Ownership

• Score: 3.3 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Credo Technology Group insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $45,262,336.00 in company stock.

Percentage Held by Insiders

16.04% of the stock of Credo Technology Group is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

80.46% of the stock of Credo Technology Group is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CRDO Stock Analysis - Frequently Asked Questions

How have CRDO shares performed this year?

Credo Technology Group's stock was trading at $19.47 on January 1st, 2024. Since then, CRDO shares have increased by 104.2% and is now trading at $39.76.
View the best growth stocks for 2024 here.

How were Credo Technology Group's earnings last quarter?

Credo Technology Group Holding Ltd (NASDAQ:CRDO) released its quarterly earnings results on Wednesday, September, 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by $0.03. The firm earned $59.71 million during the quarter, compared to analyst estimates of $59.50 million. Credo Technology Group had a negative trailing twelve-month return on equity of 3.74% and a negative net margin of 12.05%.

When did Credo Technology Group IPO?

Credo Technology Group (CRDO) raised $220 million in an initial public offering on Thursday, January 27th 2022. The company issued 20,000,000 shares at a price of $10.00-$12.00 per share.

Who are Credo Technology Group's major shareholders?

Top institutional investors of Credo Technology Group include State Street Corp (2.63%), Point72 Asset Management L.P. (2.36%), Swedbank AB (2.00%) and Swedbank AB (1.99%). Insiders that own company stock include Chi Fung Cheng, Pantas Sutardja, Yat Tung Lam, William Joseph Brennan, William Joseph Brennan, Lip Bu Tan, Daniel W Fleming, James Laufman and Adam Thorngate-Gottlund.
View institutional ownership trends.

How do I buy shares of Credo Technology Group?

Shares of CRDO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Credo Technology Group own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Credo Technology Group investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Broadcom (AVGO), Palo Alto Networks (PANW), Netflix (NFLX) and Adobe (ADBE).

Company Calendar

• Last Earnings: 9/04/2024
• Today: 11/15/2024
• Next Earnings (Confirmed): 12/02/2024
• Fiscal Year End: 4/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Business Services
• Industry: Semiconductors & related devices
• Sub-Industry: Electronic Equipment
• Current Symbol: NASDAQ:CRDO
• CUSIP: N/A
• CIK: 1807794
• Web: www.credosemi.com
• Phone: 408-664-9329
• Fax: N/A
• Employees: 500
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $36.56
• High Stock Price Target: $45.00
• Low Stock Price Target: $27.00
• Potential Upside/Downside: -8.1%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.89
• Research Coverage: 9 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.16)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-28,370,000.00
• Net Margins: -12.05%
• Pretax Margin: -8.93%
• Return on Equity: -3.74%
• Return on Assets: -3.30%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 7.81
• Quick Ratio: 7.36

Sales & Book Value

• Annual Sales: $217.59 million
• Price / Sales: 30.34
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $3.31 per share
• Price / Book: 12.01

Miscellaneous

• Outstanding Shares: 166,064,000
• Free Float: 139,427,000
• Market Cap: $6.60 billion
• Optionable: Optionable
• Beta: 2.19