Credo Technology Group Holding Ltd [NASDAQ: CRDO] loss -8.17% on the last trading session, reaching $14.84 price per share at the time. The company report on June 2, 2022 that Credo Introduces Industry Leading 40Gbps PAM3 SerDes Technology To Address New Markets Requiring High-speed, Low-Power Connectivity.
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Credo Technology Group Holding Ltd (NASDAQ: CRDO) today announced the availability of its Ostrich 40G, PAM3 Serializer/Deserializer (SerDes) PHY/PMA Intellectual Property (IP). Credo’s Ostrich IP provides a silicon proven platform which moves to 40G speeds from existing 20G deployments as a wide range of industry connectivity standards continue the trend of doubling in speed. The specification, development, and verification of the Ostrich 40G PAM3 IP was undertaken in cooperation with an industry leader in the consumer market.
Bill Brennan, Credo’s President and Chief Executive Officer stated: “The data infrastructure market is experiencing an exponential increase in bandwidth demand. There is a revolution happening as new markets and standards, including those for applications such as consumer devices, small-to-medium sized business, automotive and others demand higher-speed connectivity at lower power. Credo is addressing the expansion of the connectivity ecosystem by delivering industry-leading performance with advanced IP solutions like our Ostrich 40G PAM3 SerDes, while in parallel providing complementary IC product solutions. We firmly believe this strong focus on internal IP development will reap continued success with our traditional customers and allow us to gain tractions in these new growth markets.”.
Credo Technology Group Holding Ltd represents 144.50 million in outstanding shares, while the company has a total market value of $2.19 billion with the latest information. CRDO stock price has been found in the range of $14.61 to $16.31.
If compared to the average trading volume of 636.85K shares, CRDO reached a trading volume of 2778481 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Credo Technology Group Holding Ltd [CRDO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRDO shares is $17.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRDO stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Credo Technology Group Holding Ltd is set at 1.00, with the Price to Sales ratio for CRDO stock in the period of the last 12 months amounting to 20.60. The Price to Book ratio for the last quarter was 6.42, with the Price to Cash per share for the same quarter was set at 1.75.
Trading performance analysis for CRDO stock
Credo Technology Group Holding Ltd [CRDO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.90. With this latest performance, CRDO shares gained by 37.79% in over the last four-week period, additionally plugging by 1.37% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRDO stock in for the last two-week period is set at 55.97, with the RSI for the last a single of trading hit 52.20, and the three-weeks RSI is set at 56.75 for Credo Technology Group Holding Ltd [CRDO]. The present Moving Average for the last 50 days of trading for this stock 12.84, while it was recorded at 15.69 for the last single week of trading.
Credo Technology Group Holding Ltd [CRDO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Credo Technology Group Holding Ltd [CRDO] shares currently have an operating margin of -42.99 and a Gross Margin at +65.21. Credo Technology Group Holding Ltd’s Net Margin is presently recorded at -46.87.
Credo Technology Group Holding Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.50 and a Current Ratio set at 12.50.
An analysis of insider ownership at Credo Technology Group Holding Ltd [CRDO]
There are presently around $448 million, or 26.80% of CRDO stock, in the hands of institutional investors. The top three institutional holders of CRDO stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 8,750,082, which is approximately New of the company’s market cap and around 0.20% of the total institutional ownership; MASS AVE GLOBAL INC., holding 4,332,468 shares of the stock with an approximate value of $64.29 million in CRDO stocks shares; and BLACKROCK INC., currently with $47.59 million in CRDO stock with ownership of nearly New of the company’s market capitalization.
Positions in Credo Technology Group Holding Ltd stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 70 institutional holders increased their position in Credo Technology Group Holding Ltd [NASDAQ:CRDO] by around 25,427,964 shares. Additionally, 7 investors decreased positions by around 224,421 shares, while 1 investors held positions by with 4,523,535 shares. The mentioned changes placed institutional holdings at 30,175,920 shares, according to the latest SEC report filing. CRDO stock had 58 new institutional investments in for a total of 24,603,605 shares, while 5 institutional investors sold positions of 209,728 shares during the same period.