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Matthew Ramsay - 1 Ramsay - 1 there's - 1 Ramsey - 1 Goldman Sachs - 1 Toshiya Hari - 1 Goldman - 1 Hari - 1
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Search resuls for: "Credo's"


3 mentions found


☆ This small-cap tech stock is set to rally nearly 30%, TD Cowen says
  + stars: | 2024-06-25 | by ( Lisa Kailai Han | ) www.cnbc.com   time to read: +2 min
Credo Technology has emerged to take the crown as TD Cowen's top small- and mid-cap stock pick after a red-hot start to the year. Analyst Matthew Ramsay also upped his price target for the stock to $35 from $24, implying that Credo shares could rally 28% from Monday's close. Specifically, he thinks that Credo's revenue could inflect in the second half of its fiscal year as a number of its programs begin to ramp, including some GenAI buildouts. Credo's key program ramps within its active electrical cables at Microsoft and Amazon should also play a role in pushing the company's fundamentals higher. "Overall, we see the diversification of the company's revenue base as a key de-risking of the model and should benefit the durability of revenues going forward," Ramsey said.
Persons: Matthew Ramsay, Ramsay, there's, Ramsey Organizations: Technology, Microsoft, Active Electrical Cable Locations: Monday's
☆ An under-the-radar AI beneficiary could rally more than 20% from here
  + stars: | 2023-08-25 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
Growing demand for connectivity solutions as artificial intelligence adoption accelerates should benefit this lesser-known semiconductor name, according to Goldman Sachs. Analyst Toshiya Hari lifted his price target on Credo Technology to $18 from $16 a share, equal to 21% upside from Thursday's close. The higher price target at Goldman comes after AI chipmaker Nvidia 's second consecutive show-stopping quarterly report . Along with reiterating Goldman's buy rating, Hari lifted revenue and adjusted EBITDA estimates by 5% and 4% over the next two years, respectively. Bolton lifted his price target to $20 from $17 in a Friday note, equivalent to more than 34% upside from Thursday's close.
Persons: Goldman Sachs, Toshiya Hari, Goldman, Hari, Credo's, …, bode, Needham, Quinn Bolton, Bolton, — CNBC's Michael Bloom Organizations: Technology, AEC, Nvidia, Microsoft Locations: China
☆ Cable maker Credo slumps on forecast hit as top customer cuts orders
  + stars: | 2023-02-15 | by ( ) www.reuters.com   time to read: +2 min
Feb 15 (Reuters) - Credo Technology Group Holding (CRDO.O) forecast fourth-quarter revenue well below estimates on Tuesday following a cut in orders from the cable maker's largest customer, sending its shares down as much as 43% on Wednesday. The stock, which fell to $11.07, is set for its worst day since going public in January last year at an issue price of $10. According to a company filing, one of Credo's customers accounted for 44% of its revenue in the second quarter of fiscal 2023. Credo, which makes cables used in data centers, said it was expecting fourth-quarter revenue of $30 million to $32 million, below estimates of $58.3 million, according to Refinitiv data. Credo, which also designs chips, currently outsources all its semiconductor manufacturing to Taiwan Semiconductor Manufacturing Company (2330.TW).
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