Credo Technology Group Holding Ltd (NASDAQ: CRDO): Stock Investors Should Also Pay Attention To This Stock

During the last session, Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s traded shares were 1.4 million, with the beta value of the company hitting 1.96. At the end of the trading day, the stock’s price was $22.44, reflecting an intraday gain of 1.77% or $0.39. The 52-week high for the CRDO share is $23.90, that puts it down -6.51 from that peak though still a striking 67.91% gain since the share price plummeted to a 52-week low of $7.20. The company’s market capitalization is $3.66B, and the average intraday trading volume over the past 10 days was 1.56 million shares, and the average trade volume was 2.25 million shares over the past three months.

Credo Technology Group Holding Ltd (NASDAQ:CRDO) trade information

Credo Technology Group Holding Ltd (CRDO) registered a 1.77% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.77% in intraday trading to $22.44, hitting a weekly high. The stock’s 5-day price performance is 3.60%, and it has moved by 4.18% in 30 days. Based on these gigs, the overall price performance for the year is 138.22%. The short interest in Credo Technology Group Holding Ltd (NASDAQ:CRDO) is 9.99 million shares and it means that shorts have 4.05 day(s) to cover.

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Credo Technology Group Holding Ltd (CRDO) estimates and forecasts

Statistics show that Credo Technology Group Holding Ltd has outperformed its competitors in share price, compared to the industry in which it operates. Credo Technology Group Holding Ltd (CRDO) shares have gone up 40.78% during the last six months, with a year-to-date growth rate more than the industry average at 40.00% against 17.80.

While earnings are projected to return 40.16% in 2024, the next five years will return 20.00% per annum.

CRDO Dividends

Credo Technology Group Holding Ltd is due to release its next quarterly earnings between May 29 and June 03. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Credo Technology Group Holding Ltd (NASDAQ:CRDO)’s Major holders

Credo Technology Group Holding Ltd insiders own 20.75% of total outstanding shares while institutional holders control 71.22%, with the float percentage being 89.87%. Capital Research Global Investors is the largest shareholder of the company, while 251 institutions own stock in it. As of Jun 29, 2023, the company held over 12.63 million shares (or 8.47% of all shares), a total value of $218.92 million in shares.

The next largest institutional holding, with 10.95 million shares, is of Blackrock Inc.’s that is approximately 7.35% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $189.96 million.

Also, the Mutual Funds coming in first place with the largest holdings of Credo Technology Group Holding Ltd (CRDO) shares are Smallcap World Fund and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2023 indicates that Smallcap World Fund owns about 11.47 million shares. This amounts to just over 7.69 percent of the company’s overall shares, with a $198.81 million market value. The same data shows that the other fund manager holds slightly less at 2.53 million, or about 1.69% of the stock, which is worth about $43.81 million.