Brokerages Expect Credo Technology Group Holding Ltd (NASDAQ:CRDO) Will Post Quarterly Sales of $37.25 Million

Clara D. Flaherty

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Equities research analysts count on Credo Know-how Team Holding Ltd (NASDAQ:CRDOGet Ranking) to announce product sales of $37.25 million for the latest quarter, according to Zacks Expense Research. Two analysts have presented estimates for Credo Technologies Group’s earnings, with estimates ranging from $35.50 million to $39.00 million. The business is anticipated to announce its future earnings report after the marketplace closes on Monday, January 1st.

According to Zacks, analysts assume that Credo Technological innovation Team will report full-year sales of $106.20 million for the present money 12 months, with estimates ranging from $104.40 million to $108.00 million. For the next economical year, analysts foresee that the business will report income of $196.95 million, with estimates ranging from $196.90 million to $197.00 million. Zacks Investment Research’s profits averages are an typical based mostly on a study of offer-facet study companies that abide by Credo Technology Team.

Credo Technological know-how Group (NASDAQ:CRDOGet Rating) last introduced its earnings success on Wednesday, March 9th. The enterprise documented $.03 earnings for each share (EPS) for the quarter, topping the consensus estimate of ($.01) by $.04. The company had income of $31.80 million for the duration of the quarter, in comparison to analysts’ expectations of $29.60 million.

CRDO has been the subject matter of numerous recent analyst stories. Craig Hallum started out protection on shares of Credo Technology Group in a report on Tuesday, February 22nd. They issued a “buy” ranking and a $19.00 concentrate on selling price for the corporation. Zacks Investment Research decreased Credo Technological know-how Group from a “buy” score to a “hold” rating in a exploration be aware on Tuesday, Might 10th. Stifel Nicolaus decreased their concentrate on rate on Credo Know-how Group to $19.00 and set a “buy” rating on the stock in a exploration observe on Wednesday, April 13th. Cowen upped their cost goal on Credo Technological know-how Group from $19.00 to $20.00 and gave the inventory an “outperform” ranking in a investigation be aware on Thursday, March 10th. Finally, Roth Funds increased their price goal on shares of Credo Technological innovation Group from $20.00 to $25.00 in a report on Thursday, March 10th. A single financial investment analyst has rated the stock with a hold score and eight have provided a purchase score to the company. Based mostly on information from MarketBeat, the stock has an regular score of “Buy” and an normal goal selling price of $19.89.

Shares of NASDAQ CRDO opened at $9.80 on Tuesday. Credo Technology Team has a 1 12 months lower of $8.61 and a 1 calendar year high of $18.00. The stock has a fifty day transferring ordinary price tag of $12.63.

Hedge funds and other institutional buyers have lately purchased and bought shares of the business. California Point out Lecturers Retirement Method obtained a new situation in shares of Credo Technology Team in the 1st quarter value $143,000. Goldman Sachs Group Inc. acquired a new posture in Credo Technology Group in the 1st quarter truly worth about $708,000. Mass Ave Worldwide Inc. acquired a new posture in Credo Technological know-how Group in the initially quarter well worth about $65,983,000. Wellington Management Group LLP acquired a new stake in Credo Technology Group through the initially quarter worthy of close to $254,000. Finally, Point out Avenue Corp procured a new stake in Credo Technology Group during the initially quarter valued at close to $3,203,000. Hedge resources and other institutional buyers own .37% of the company’s stock.

Credo Technologies Team Company Profile (Get Rating)

Credo Technological innovation Group Holding Ltd supplies a variety of significant-pace connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Malaysia, Hong Kong, and internationally. Its products and solutions contain integrated circuits, lively electrical cables, and SerDes chiplets that are based mostly on its serializer/deserializer and digital sign processor technologies.

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