Credo Technology Group (CRDO) Set to Announce Earnings on Wednesday

Credo Technology Group (NASDAQ:CRDOGet Rating) is set to post its quarterly earnings results after the market closes on Wednesday, November 30th. Analysts expect Credo Technology Group to post earnings of $0.03 per share for the quarter. Credo Technology Group has set its Q2 2023 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Credo Technology Group (NASDAQ:CRDOGet Rating) last released its quarterly earnings data on Wednesday, August 31st. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $46.47 million during the quarter, compared to analysts’ expectations of $45.70 million. The company’s revenue for the quarter was up 333.3% on a year-over-year basis. On average, analysts expect Credo Technology Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Credo Technology Group Stock Performance

NASDAQ:CRDO opened at $14.48 on Wednesday. Credo Technology Group has a 1 year low of $8.61 and a 1 year high of $18.00. The stock’s fifty day moving average price is $12.50 and its two-hundred day moving average price is $12.54.

Insider Buying and Selling

In other news, General Counsel Adam Thorngate-Gottlund sold 5,945 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $12.95, for a total value of $76,987.75. Following the sale, the general counsel now directly owns 274,405 shares of the company’s stock, valued at $3,553,544.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Daniel W. Fleming sold 56,250 shares of Credo Technology Group stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $15.01, for a total transaction of $844,312.50. Following the completion of the sale, the chief financial officer now owns 543,825 shares in the company, valued at approximately $8,162,813.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Adam Thorngate-Gottlund sold 5,945 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $12.95, for a total value of $76,987.75. Following the transaction, the general counsel now directly owns 274,405 shares of the company’s stock, valued at approximately $3,553,544.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,000,882 shares of company stock valued at $12,277,097. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of Credo Technology Group during the 1st quarter valued at $26,000. Royal Bank of Canada bought a new stake in Credo Technology Group in the 1st quarter worth approximately $26,000. UBS Group AG purchased a new stake in Credo Technology Group in the first quarter worth approximately $69,000. Tower Research Capital LLC TRC grew its position in Credo Technology Group by 2,557.2% during the third quarter. Tower Research Capital LLC TRC now owns 9,566 shares of the company’s stock valued at $105,000 after acquiring an additional 9,206 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Credo Technology Group by 349.0% during the second quarter. Legal & General Group Plc now owns 9,686 shares of the company’s stock worth $114,000 after acquiring an additional 7,529 shares in the last quarter. 22.64% of the stock is currently owned by institutional investors.

Credo Technology Group Company Profile

(Get Rating)

Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Mainland China, 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.

Further Reading

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