Brokerages Expect Credo Technology Group Holding Ltd (NASDAQ:CRDO) Will Announce Earnings of $0.01 Per Share

Brokerages expect Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) to post earnings per share (EPS) of $0.01 for the current quarter, Zacks reports. Two analysts have provided estimates for Credo Technology Group’s earnings. The lowest EPS estimate is ($0.01) and the highest is $0.02. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Credo Technology Group will report full-year earnings of ($0.11) per share for the current financial year, with EPS estimates ranging from ($0.16) to ($0.08). For the next year, analysts anticipate that the business will report earnings of $0.15 per share, with EPS estimates ranging from $0.14 to $0.15. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Credo Technology Group.

Credo Technology Group (NASDAQ:CRDO – Get Rating) last issued its quarterly earnings data on Wednesday, March 9th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $31.80 million for the quarter, compared to analyst estimates of $29.60 million.

A number of research analysts recently issued reports on CRDO shares. Roth Capital boosted their price objective on shares of Credo Technology Group from $20.00 to $25.00 in a report on Thursday, March 10th. Stifel Nicolaus reduced their price target on shares of Credo Technology Group to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 13th. Cowen upped their price target on shares of Credo Technology Group from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, March 10th. Craig Hallum began coverage on shares of Credo Technology Group in a report on Tuesday, February 22nd. They issued a “buy” rating and a $19.00 price target for the company. Finally, Needham & Company LLC began coverage on shares of Credo Technology Group in a report on Tuesday, February 22nd. They issued a “buy” rating and a $20.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $20.75.

A hedge fund recently bought a new stake in Credo Technology Group stock. Strs Ohio bought a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,200 shares of the company’s stock, valued at approximately $79,000.

NASDAQ CRDO traded down $0.15 during trading on Monday, reaching $11.04. 586,053 shares of the stock traded hands, compared to its average volume of 614,996. The firm’s 50-day moving average is $13.82. Credo Technology Group has a fifty-two week low of $10.43 and a fifty-two week high of $18.00.

About Credo Technology Group (Get Rating)

Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Malaysia, Hong Kong, and internationally. Its products include integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies.

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