Credo Technology Group Holding Ltd [NASDAQ: CRDO] closed the trading session at $12.96 on 09/14/22. The day’s price range saw the stock hit a low of $12.81, while the highest price level was $13.54. The company report on September 13, 2022 that Credo Targets Hyperscale Data Centers and 5G Networks with New Optical DSPs.
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New Seagull DSPs Deliver High Performance and Low Power with Integrated DML Drivers.
Credo Technology Group Holding Ltd (NASDAQ: CRDO) today introduced two high-performance, low-power optical DSPs ICs; the single channel Seagull 52 and the quad channel Seagull 202. Credo designed these new Seagull DSPs to meet the requirements of the most demanding hyperscale and 5G applications by delivering higher bandwidths and low-latency variation combined with ultra-low power dissipation. Both devices come with the integrated directly modulated laser (DML) drivers critical to supporting high-density data center design and optical transport networks.
The stocks have a year to date performance of 11.24 percent and weekly performance of 1.17 percent. The stock has been moved at -9.37 percent over the last six months. The stock has performed -13.14 percent around the most recent 30 days and changed 2.86 percent over the most recent 3-months.
If compared to the average trading volume of 1.14M shares, CRDO reached to a volume of 3112276 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $18.00 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 0.81, with the Price to Sales ratio for CRDO stock in the period of the last 12 months amounting to 13.04. The Price to Book ratio for the last quarter was 5.49, with the Price to Cash per share for the same quarter was set at 1.70.
CRDO stock trade performance evaluation
Credo Technology Group Holding Ltd [CRDO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.17. With this latest performance, CRDO shares dropped by -13.14% in over the last four-week period, additionally sinking by -9.37% 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 42.40, with the RSI for the last a single of trading hit 38.96, and the three-weeks RSI is set at 45.49 for Credo Technology Group Holding Ltd [CRDO]. The present Moving Average for the last 50 days of trading for this stock 13.61, while it was recorded at 12.85 for the last single week of trading.
Credo Technology Group Holding Ltd [CRDO]: An insightful look at the core fundamentals
Credo Technology Group Holding Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.30 and a Current Ratio set at 8.10.
Credo Technology Group Holding Ltd [CRDO]: Insider Ownership positions
There are presently around $427 million, or 28.70% 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 0% of the company’s market cap and around 2.50% of the total institutional ownership; BLACKROCK INC., holding 3,588,064 shares of the stock with an approximate value of $46.5 million in CRDO stocks shares; and MASS AVE GLOBAL INC., currently with $35.47 million in CRDO stock with ownership of nearly -36.832% of the company’s market capitalization.
Positions in Credo Technology Group Holding Ltd stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 55 institutional holders increased their position in Credo Technology Group Holding Ltd [NASDAQ:CRDO] by around 7,147,393 shares. Additionally, 34 investors decreased positions by around 3,422,012 shares, while 3 investors held positions by with 22,357,042 shares. The mentioned changes placed institutional holdings at 32,926,447 shares, according to the latest SEC report filing. CRDO stock had 21 new institutional investments in for a total of 1,394,747 shares, while 19 institutional investors sold positions of 1,575,171 shares during the same period.