On Wednesday, November 30, after the stock market has closed, Credo Technology Group (NASDAQ: CRDO) will announce the company’s quarterly earnings. According to the forecasts of market experts, Credo Technology Group should generate revenue of $0.03 per share in the fourth quarter. Credo Technology Group has set a target for its earnings per share (EPS) for the second quarter of 2023. Simply following the link provided in this paragraph will allow individuals to join the earnings conference call that the company will be holding.
The most recent quarterly earnings report for Credo Technology Group (NASDAQ: CRDO) was published on August 31. During the period covered by the report, the firm posted earnings of $0.01 per share, which corresponded to the consensus estimate of $0.01 among market analysts. The revenue for the quarter came in at $46.47 million, which is higher than the $45.70 million that experts had anticipated. The revenue for the third quarter climbed by 333.3 percent compared to the same period last year. According to analysts’ forecasts, Credo Technology Group will not generate any profits per share during the current fiscal year, nor will it during the following fiscal year.
The NASDAQ: CRDO stock started the trading day at $14.48. The one-year low for Credo Technology Group is $8.61, and the one-year high for the company is $18.00. The moving average price of the stock over the past fifty days is $12.50; over the past 200 days, it has averaged $12.54.
On September 7, General Counsel Adam Thorngate-Gottlund sold 5,945 shares of the company’s stock, as reported in another news piece. At an average price of $12.95 per share, the shares could fetch a total of $76,987.75 when sold. The general counsel now has ownership of 274,405 shares of company stock, which have a combined value of $3,553,544.75. You may learn more about the transaction revealed in a legal file submitted to the Securities and Exchange Commission by following the link provided above. In other news, Credo Technology Group’s Chief Financial Officer, Daniel W. Fleming, sold 56,250 shares on Tuesday, November 15. The stock was sold for $844,312.50, corresponding to an average $15.01. As a result of the transaction, the chief financial officer of the firm now has ownership of 543,825 shares that are valued at $8,162,813.25. This information about the transaction was included in a filing with the SEC, which can be accessed here. In addition, on September 7, the General Counsel for the company, Adam Thorngate-Gottlund, sold 5,945 shares of the company’s stock. The shares were sold for an average price of $12.95 each, resulting in a total sale price of $76,987.75. The general counsel has acquired 274,405 shares of the company’s stock, currently valued at $3,553,544.75. The disclosure for this sale can be found at this location. During the last quarter, business insiders offloaded 1,000,882 shares of company stock for a total value of $12,277,097. Business insiders hold a 34.20% ownership stake.
Recently, some hedge funds have been active buyers and sellers of shares. During the first three months of 2018, Ameritas Investment Partners Inc. purchased a new interest in Credo Technology Group for $26,000. Royal Bank of Canada shelled out around $26,000 over the first three months of the year to acquire a new share in Credo Technology Group. UBS Group AG shelled out around $69,000 over the first three months of the year to acquire a new interest in Credo Technology Group. Tower Research Capital LLC (TRC) made a 2,557.2% investment in Credo Technology Group during the third quarter, increasing its stake in the company. As a result of the purchase of 9,206 additional shares during the preceding quarter, Tower Research Capital LLC (TRC) now owns a total of 9,566 shares of the company’s stock, which has a market value of $105,000. Finally, during the second quarter, Legal & General Group Plc increased the percentage of its stake in Credo Technology Group by 349.0%. Following the acquisition of 7,529 additional shares during the preceding quarter, Legal & General Group Plc now holds 9,686 shares of the company’s stock, which has a value of $114,000. At this time, institutional investors own 22.64% of the company’s stock.
The United States, Mexico, Mainland China, Hong Kong, and other locations around the world are just some of the places where Credo Technology Group Holding Ltd. makes a comprehensive selection of high-speed connectivity solutions for optical and electrical Ethernet applications available. Integrated circuits, active electrical cables, and DSP-based SerDes chipsets that are capable of serialization and deserialization are all products that this company sells.