Credo Technology Group Holding LtdNASDAQ: CRDO

Credo Technology Group Holding Ltd. (CRDO) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.05 per share.

Purchase recommendation for Credo Technology stock based on increasing growth and expanding customer base. Recent results show strong growth in product revenue and improved margins. Credo Technology is attracting new hyperscale customers and is well-prepared for the growing demand in high-speed data center connectivity.

Credo Technology provides high-speed connectivity solutions including integrated circuits, Active Electrical Cables, and Serializer and Deserializer Chiplets. Despite volatility in 2023, CRDO has had a strong rebound with a 126% return in the past year. The company is benefitting from the growing demand for high-performance computing in data centers, particularly from US hyperscalers like Microsoft.

SAN JOSE, Calif., March 04, 2024 (GLOBE NEWSWIRE) -- Credo Technology Group Holding Ltd (Credo) (NASDAQ: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved energy efficiency as data rates and corresponding bandwidth requirements increase throughout the data infrastructure market, today announced that Bill Brennan, President and CEO, and Dan Fleming, CFO, are scheduled to present at the following upcoming investor conference.

Credo Technology Group Holding Ltd. (CRDO) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of $0.03 per share.

Credo Technology Group Holding Ltd. (CRDO) was a big mover last session on higher-than-average trading volume.

Credo Technology (CRDO) has seen solid earnings estimate revision activity over the past two months, and belongs to a strong industry as well.

Does Credo Technology Group Holding Ltd. (CRDO) have what it takes to be a top stock pick for momentum investors?

Credo Technology Group Holding Ltd. (CRDO) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.