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Credo Technology Group Holding Ltd (CRDO) Report Analysis

Corporate Events

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRD...

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 2500 Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRD...

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 2000 Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRD...

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell Small Cap Comp Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRD...

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 3000 Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRD...

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 3000E Value Index

Positive

Credo Technology Group Holding Ltd(NasdaqGS:CRD...

2022-06-20 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) added to S&P Global BMI Index

Positive

Credo Technology Group Holding Ltd Announces th...

2022-06-02 13:00:00

Credo Technology Group Holding Ltd. announced the availability of its Ostrich 40G, PAM3 Serializer/Deserializer (SerDes) PHY/PMA Intellectual ...

Neutral

Credo Technology Group Holding Ltd Provides Ear...

2022-06-01 20:05:00

Credo Technology Group Holding Ltd. provided earnings guidance First Quarter of Fiscal 2023. Revenue is expected to be between $43.5 million t...

Negative

Credo Technology Group Holding Ltd Announces Im...

2022-06-01 20:05:00

Credo Technology Group Holding Ltd. announced Impairment charges for the fourth quarter ended April 30, 2022. Impairment charges of $3,134,000.

Neutral

Credo Technology Group Holding Ltd Presents at ...

2022-05-31 13:00:00

Credo Technology Group Holding Ltd Presents at Stifel 2022 Cross Sector Insight Conference, Jun-07-2022 04:45 PM. Venue: The InterContinental ...

Neutral

Credo Technology Group Holding Ltd, Q4 2022 Ear...

2022-05-12 13:00:00

Credo Technology Group Holding Ltd, Q4 2022 Earnings Call, Jun 01, 2022

Neutral

Credo Technology Group Holding Ltd to Report Q4...

2022-05-12 13:00:00

Credo Technology Group Holding Ltd announced that they will report Q4, 2022 results After-Market on Jun 01, 2022

Neutral

Stifel, Nicolaus & Company, Incorporated, Stife...

2022-03-02 19:15:00

Stifel, Nicolaus & Company, Incorporated, Stifel 2022 Cross Sector Insight Conference, Jun 06, 2022 through Jun 09, 2022. Venue: The InterCont...

Neutral

Credo Technology Group Holding Ltd Files an Ame...

2022-02-01 11:15:00

On January 31, 2022, Credo Technology Group Holding Ltd. filed an amended and restated memorandum and articles of association with the Registr...

Positive

Credo Technology Group Holding Ltd(NasdaqGS:CRD...

2022-01-28 00:00:00

Credo Technology Group Holding Ltd has been added to NASDAQ Composite Index (^COMP) .

Neutral

Credo Technology Group Holding Ltd has filed a ...

2022-01-26 00:00:00

Credo Technology Group Holding Ltd has filed a Shelf Registration in the amount of $387.810456 million. Security Name: Common Shares Secur...

Neutral

Credo Technology Group Holding Ltd has filed an...

2022-01-03 00:00:00

Credo Technology Group Holding Ltd has filed an IPO in the amount of $100 million. Security Name: Ordinary Share Security Type: Common Sto...

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 2500 Value Index

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 2500 Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 2000 Value Index

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 2000 Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell Small Cap Comp Value Index

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell Small Cap Comp Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 3000 Value Index

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 3000 Value Index

Negative

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 3000E Value Index

2022-06-24 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) dropped from Russell 3000E Value Index

Positive

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) added to S&P Global BMI Index

2022-06-20 00:00:00

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) added to S&P Global BMI Index

Positive

Credo Technology Group Holding Ltd Announces the Availability of Its Ostrich 40G, Pam3 Serializer/Deserializer (Serdes) Phy/Pma Intellectual Property

2022-06-02 13:00:00

Credo Technology Group Holding Ltd. announced the availability of its Ostrich 40G, PAM3 Serializer/Deserializer (SerDes) PHY/PMA Intellectual Property (IP). Credo’s Ostrich IP provides a silicon proven platform which moves to 40G speeds from existing 20G deployments as a wide range of industry connectivity standards continue the trend of doubling in speed. The specification, development, and verification of the Ostrich 40G PAM3 IP was undertaken in cooperation with an industry leader in the consumer market. Ostrich is a multi-protocol high-speed SerDes supporting data rates up to 25.6Gbps NRZ and 40Gbps PAM3. A single bi-directional lane supports channel insertion loss up to 30dB bump-to-bump at 40Gbps with spread-spectrum clocking (SSC) enabled while achieving very low power to address all key application use cases. Credo's unique SerDes technology enables silicon solution providers and OEMs to manufacture custom chip solutions which address new market opportunities, while delivering on critical performance and low- power system level requirements.

Neutral

Credo Technology Group Holding Ltd Provides Earnings Guidance First Quarter of Fiscal 2023

2022-06-01 20:05:00

Credo Technology Group Holding Ltd. provided earnings guidance First Quarter of Fiscal 2023. Revenue is expected to be between $43.5 million to $47.5 million, up 324% year over year at the midpoint.

Negative

Credo Technology Group Holding Ltd Announces Impairment Charges for the Fourth Quarter Ended April 30, 2022

2022-06-01 20:05:00

Credo Technology Group Holding Ltd. announced Impairment charges for the fourth quarter ended April 30, 2022. Impairment charges of $3,134,000.

Neutral

Credo Technology Group Holding Ltd Presents at Stifel 2022 Cross Sector Insight Conference, Jun-07-2022 04:45 PM

2022-05-31 13:00:00

Credo Technology Group Holding Ltd Presents at Stifel 2022 Cross Sector Insight Conference, Jun-07-2022 04:45 PM. Venue: The InterContinental Boston Hotel, Boston, Massachusetts, United States. Speakers: Daniel Fleming, Chief Financial Officer.

Neutral

Credo Technology Group Holding Ltd, Q4 2022 Earnings Call, Jun 01, 2022

2022-05-12 13:00:00

Credo Technology Group Holding Ltd, Q4 2022 Earnings Call, Jun 01, 2022

Neutral

Credo Technology Group Holding Ltd to Report Q4, 2022 Results on Jun 01, 2022

2022-05-12 13:00:00

Credo Technology Group Holding Ltd announced that they will report Q4, 2022 results After-Market on Jun 01, 2022

Neutral

Stifel, Nicolaus & Company, Incorporated, Stifel 2022 Cross Sector Insight Conference, Jun 06, 2022 through Jun 09, 2022

2022-03-02 19:15:00

Stifel, Nicolaus & Company, Incorporated, Stifel 2022 Cross Sector Insight Conference, Jun 06, 2022 through Jun 09, 2022. Venue: The InterContinental Boston Hotel, Boston, Massachusetts, United States.

Neutral

Credo Technology Group Holding Ltd Files an Amended and Restated Memorandum and Articles of Association

2022-02-01 11:15:00

On January 31, 2022, Credo Technology Group Holding Ltd. filed an amended and restated memorandum and articles of association with the Registrar of Companies of the Cayman Islands, which became effective immediately prior to the Closing. The company’s board of directors and shareholders previously approved the A&R M&A to be effective immediately prior to the Closing.

Positive

Credo Technology Group Holding Ltd(NasdaqGS:CRDO) added to NASDAQ Composite Index

2022-01-28 00:00:00

Credo Technology Group Holding Ltd has been added to NASDAQ Composite Index (^COMP) .

Neutral

Credo Technology Group Holding Ltd has filed a Shelf Registration in the amount of $387.810456 million.

2022-01-26 00:00:00

Credo Technology Group Holding Ltd has filed a Shelf Registration in the amount of $387.810456 million. Security Name: Common Shares Securities Offered: 35,255,496 Transaction Features: ESOP Related Offering

Neutral

Credo Technology Group Holding Ltd has filed an IPO in the amount of $100 million.

2022-01-03 00:00:00

Credo Technology Group Holding Ltd has filed an IPO in the amount of $100 million. Security Name: Ordinary Share Security Type: Common Stock Transaction Features: Reserved Share Offering

Fundamental Summary

Credo's recently released results from Q1 indicate that Credo is performing reasonably well and on par with its peers. It is highly likely that it will be mostly tethered to market performance and sector movements for the near term. We gave Credo a 67 rating and a HOLD recommendation.

Business Description

Credo 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. The company also offers intellectual property solutions consist of SerDes IP licensing. The company was founded in 2008 and is headquartered in San Jose, California.

Sector Overview

Credo is included in the Semiconductors & Semiconductor Equipment according to GICS (global industry classification standard). The Semiconductors & Semiconductor Equipment industry is part of the Information Technology sector. It includes manufacturers of semiconductors, semiconductor equipment, and related products. Credo's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 375.7 12.4% 61
Liabilities 41.5 45.5% 94
Price to Book 5.1 -8.6% 86
Cash & Equivalents 259.3 7.8% 79
Equity 334.2 9.3% 78
EBITDA -9.3 14.6% 88
Total Revenues 106.5 20.0% 38
Parameter Value Change Score
Return on Equity -9.3 -111.0% 61
Net Cashflow 155.6 23.5% 60
Capital Expenditure -17.6 -135.8% 37
Asset Turnover 0.4 -10.0% 43
Free Cashflow -0.5 26.6% 85

* All values are TTM

The below chart reflects Credo's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Credo's peer average final assessment score stands on 67.0, Credo's score is 67.

  •  CRDO
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
NVIDIA Corporation 400.2B 71 63 82
Hold
76
76 0 1
Intel Corporation 154.5B 77 76 58
Hold
75
75 1 1
QUALCOMM Incorporated 147.4B 82 66 77
Buy
82
82 2 1
Texas Instruments Incorporated 142.2B 76 74 70
Buy
80
80 3 1
Advanced Micro Devices, Inc. 130.9B 88 59 57
Hold
68
68 4 1
Broadcom Inc. 102.5B 62 71 85
Buy
79
79 5 1
Applied Materials, Inc. 82.7B 60 72 69
Hold
69
69 6 1
Analog Devices, Inc. 77.2B 69 65 84
Hold
78
78 7 1
Micron Technology, Inc. 64.6B 81 74 80
Strong Buy
89
89 8 1
Lam Research Corporation 60.8B 60 74 69
Hold
70
70 9 1
KLA Corporation 49.3B 66 67 74
Hold
72
72 10 1
NXP Semiconductors N.V. 40.5B 64 71 73
Hold
73
73 11 1
Marvell Technology, Inc. 38.5B 60 64 65
Hold
62
62 12 1
Microchip Technology Incorporated 33.0B 79 71 79
Buy
85
85 13 1
GLOBALFOUNDRIES Inc. 23.9B 78 70 63
Hold
75
75 14 1
ON Semiconductor Corporation 22.9B 81 73 70
Buy
82
82 15 1
Monolithic Power Systems, Inc. 18.5B 84 66 77
Buy
83
83 16 1
Skyworks Solutions, Inc. 15.5B 62 70 71
Hold
70
70 17 1
SolarEdge Technologies, Inc. 15.5B 81 53 43
Underperform
53
53 18 1
Teradyne, Inc. 15.3B 52 75 68
Hold
66
66 19 1
Entegris, Inc. 14.1B 70 69 65
Hold
70
70 20 1
Qorvo, Inc. 10.2B 67 72 73
Hold
75
75 21 1
First Solar, Inc. 7.2B 59 73 53
Underperform
60
60 22 1
Lattice Semiconductor Corporation 6.8B 68 71 77
Hold
78
78 23 1
MKS Instruments, Inc. 5.8B 70 74 59
Hold
70
70 24 1
Silicon Laboratories Inc. 5.3B 72 70 86
Buy
84
84 25 1
Universal Display Corporation 5.2B 75 68 71
Hold
76
76 26 1
CMC Materials, Inc. 5.1B 81 76 74
Strong Buy
87
87 27 1
Tower Semiconductor Ltd. 5.1B 65 79 68
Buy
79
79 28 1
Synaptics Incorporated 4.9B 81 68 66
Hold
76
76 29 1
Power Integrations, Inc. 4.4B 61 80 82
Buy
82
82 30 1
Amkor Technology, Inc. 4.2B 75 70 60
Hold
71
71 31 1
Cirrus Logic, Inc. 4.1B 86 67 90
Strong Buy
92
92 32 1
Allegro MicroSystems, Inc. 4.0B 74 61 56
Hold
62
62 33 1
Semtech Corporation 3.5B 67 75 77
Buy
80
80 34 1
MACOM Technology Solutions Holdings, Inc. 3.3B 70 76 68
Hold
77
77 35 1
FormFactor, Inc. 3.1B 84 80 67
Strong Buy
87
87 36 1
Diodes Incorporated 3.0B 62 76 72
Hold
75
75 37 1
SunPower Corporation 3.0B 61 49 74
Underperform
56
56 38 1
Silicon Motion Technology Corporation 2.8B 54 72 61
Hold
65
65 39 1
MaxLinear, Inc. 2.7B 76 75 88
Strong Buy
91
91 40 1
Nova Ltd. 2.7B 61 69 54
Hold
64
64 41 1
Ambarella, Inc. 2.6B 64 72 79
Hold
77
77 42 1
Kulicke and Soffa Industries, Inc. 2.6B 58 79 82
Buy
80
80 43 1
Rambus Inc. 2.4B 48 64 89
Hold
69
69 44 1
Canadian Solar Inc. 2.0B 59 72 71
Hold
71
71 45 1
Axcelis Technologies, Inc. 1.9B 81 67 82
Buy
85
85 46 1
Himax Technologies, Inc. 1.6B 77 70 66
Buy
79
79 47 1
Impinj, Inc. 1.4B 72 59 65
Hold
65
65 48 1
Ultra Clean Holdings, Inc. 1.4B 63 63 61
Hold
60
60 49 1
Cohu, Inc. 1.3B 58 75 59
Hold
64
64 50 1
Photronics, Inc. 1.2B 69 71 82
Buy
81
81 51 1
SMART Global Holdings, Inc. 1.0B 86 65 62
Hold
75
75 52 1
Veeco Instruments Inc. 1.0B 58 76 71
Hold
72
72 53 1
Alpha and Omega Semiconductor Limited 929.5M 77 69 54
Hold
68
68 54 1
PDF Solutions, Inc. 808.6M 63 71 89
Buy
82
82 55 1
CEVA, Inc. 778.5M 73 71 71
Hold
77
77 56 1
Ichor Holdings, Ltd. 754.1M 60 67 58
Underperform
59
59 57 1
Maxeon Solar Technologies, Ltd. 575.9M 53 49 84
Hold
60
60 58 1
Enphase Energy, Inc. 25.7B 58 57 60
Underperform
52
52 59 1
Wolfspeed, Inc. 8.2B 74 69 55
Hold
66
66 60 1
Daqo New Energy Corp. 5.0B 93 65 89
Strong Buy
95
95 61 1
SiTime Corporation 3.6B 59 64 62
Underperform
59
59 62 1
Onto Innovation Inc. 3.6B 78 67 85
Buy
85
85 63 1
JinkoSolar Holding Co., Ltd. 3.2B 89 62 74
Buy
81
81 64 1
Camtek Ltd. 1.1B 66 68 71
Hold
74
74 65 1
ACM Research, Inc. 917.6M 52 67 50
Underperform
50
50 66 1
NeoPhotonics Corporation 838.5M 66 69 71
Hold
72
72 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 72 70 68
Hold
71
71 68 1
indie Semiconductor, Inc. 720.1M 44 43 85
Underperform
49
49 69 1
Magnachip Semiconductor Corporation 667.1M 74 90 57
Buy
82
82 70 1
Mykrolis Corp. 657.1M 72 67 75
Hold
76
76 71 1
Navitas Semiconductor Corporation 533.1M 67 53 90
Hold
72
72 72 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 56 66 73
Hold
62
62 73 1
Rigetti Computing, Inc. 413.5M 98 72 58
Buy
84
84 74 1
Meta Materials Inc. 396.9M 42 43 84
Underperform
47
47 75 1
Helix Technology Corporation 364.9M 65 74 61
Hold
68
68 76 1
Valens Semiconductor Ltd. 357.2M 75 65 66
Hold
75
75 77 1
Rockley Photonics Holdings Limited 305.7M 42 79 60
Underperform
59
59 78 1
CyberOptics Corporation 272.8M 75 71 72
Hold
78
78 79 1
Transphorm, Inc. 255.8M 45 68 88
Hold
69
69 80 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Credo's stock is now priced above its 50-day, but below its 5-day and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is strengthening. Historically, this is a positive setup in the medium-term. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Credo's stock indicates that it's likely oversold. Overall, these technical indicators don't clearly signal directional momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 68.

Neutral 68
Close Price 11.89
52W Low 8.8
52W High 16.9
5D MA 12.34
50D MA 11.28
200D MA nan
MACD 0.28
RSI 21.52
STOCH 5.56

Balance Sheet Analysis

Overall, Credo's critical balance sheet metrics appear to signal strong support and a high likelihood of positive growth going forward. Credo has done an excellent job managing its liabilities. Credo's liabilities stood at 41.5 in the current filing, which represents a 45.5% change from the previous report. These liabilities changes appear balanced compared to their peers and project the message that management is capable and focused on balancing asset growth, resource allocation, and growing liabilities. Therefore, we rated their liabilities movement with a score of 94. Also, Credo's price to book ratio (P/B) was reported as 5.1 and represents -8.6% change from the previous report. The company's book value factor metrics are even more remarkable when compared to their peers. The company's book value factors component, therefore, received a grade of 86. On the other hand, Assets, jumped out as looking problematic. Mediocre performance in terms of assets could drop the bar on expectations for Credo's future attractiveness, as they changed to 375.7 in the latest filing. This works out to a 12.4% change from the last period. Credo's unremarkable asset growth results, specifically compared to their industry peers' performance, should present negative pressure on Credo's stock price. Therefore, their asset component earned a score of 61. Therefore, it received a score of 88.

Parameter Value Change Score
Assets 375.7 12.4% 61
Liabilities 41.5 45.5% 94
Price to Book 5.1 -8.6% 86
Cash & Equivalents 259.3 7.8% 79
Equity 334.2 9.3% 78
* All values are TTM

The below chart describes Credo's performance as reflected on its balance sheet with respect to its peers. While Credo received a balance sheet score of 88, the average of its peers stands on 88.0.

  •  CRDO
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
NVIDIA Corporation 400.2B 78 70 65 97 54 71 0 1
Intel Corporation 154.5B 65 69 76 90 81 77 1 1
QUALCOMM Incorporated 147.4B 57 71 96 80 80 82 2 1
Texas Instruments Incorporated 142.2B 63 69 87 46 84 76 3 1
Advanced Micro Devices, Inc. 130.9B 93 61 78 96 80 88 4 1
Broadcom Inc. 102.5B 67 79 58 56 55 62 5 1
Applied Materials, Inc. 82.7B 71 72 63 41 55 60 6 1
Analog Devices, Inc. 77.2B 62 80 66 66 66 69 7 1
Micron Technology, Inc. 64.6B 73 69 85 76 74 81 8 1
Lam Research Corporation 60.8B 72 77 58 51 45 60 9 1
KLA Corporation 49.3B 75 62 73 53 66 66 10 1
NXP Semiconductors N.V. 40.5B 71 68 56 62 76 64 11 1
Marvell Technology, Inc. 38.5B 71 84 50 46 51 60 12 1
Microchip Technology Incorporated 33.0B 65 84 76 72 66 79 13 1
GLOBALFOUNDRIES Inc. 23.9B 81 65 74 82 74 78 14 1
ON Semiconductor Corporation 22.9B 74 68 77 89 82 81 15 1
Monolithic Power Systems, Inc. 18.5B 85 64 76 92 80 84 16 1
Skyworks Solutions, Inc. 15.5B 69 77 63 46 52 62 17 1
SolarEdge Technologies, Inc. 15.5B 77 62 78 96 85 81 18 1
Teradyne, Inc. 15.3B 49 81 62 45 47 52 19 1
Entegris, Inc. 14.1B 62 70 75 55 78 70 20 1
Qorvo, Inc. 10.2B 64 83 64 67 55 67 21 1
First Solar, Inc. 7.2B 76 70 50 58 58 59 22 1
Lattice Semiconductor Corporation 6.8B 53 79 78 60 64 68 23 1
MKS Instruments, Inc. 5.8B 60 73 73 76 72 70 24 1
Silicon Laboratories Inc. 5.3B 89 81 59 45 48 72 25 1
Universal Display Corporation 5.2B 57 76 83 85 69 75 26 1
CMC Materials, Inc. 5.1B 65 78 73 87 82 81 27 1
Tower Semiconductor Ltd. 5.1B 68 72 69 61 58 65 28 1
Synaptics Incorporated 4.9B 71 71 79 92 76 81 29 1
Power Integrations, Inc. 4.4B 56 82 58 79 53 61 30 1
Amkor Technology, Inc. 4.2B 70 68 75 74 77 75 31 1
Cirrus Logic, Inc. 4.1B 73 76 81 96 73 86 32 1
Allegro MicroSystems, Inc. 4.0B 68 69 74 81 76 74 33 1
Semtech Corporation 3.5B 58 79 68 67 64 67 34 1
MACOM Technology Solutions Holdings, Inc. 3.3B 65 75 74 38 74 70 35 1
FormFactor, Inc. 3.1B 72 70 84 82 80 84 36 1
Diodes Incorporated 3.0B 47 78 71 51 71 62 37 1
SunPower Corporation 3.0B 72 81 42 83 54 61 38 1
Silicon Motion Technology Corporation 2.8B 40 85 60 40 48 54 39 1
MaxLinear, Inc. 2.7B 68 71 75 85 74 76 40 1
Nova Ltd. 2.7B 86 45 75 48 82 61 41 1
Ambarella, Inc. 2.6B 46 75 74 86 65 64 42 1
Kulicke and Soffa Industries, Inc. 2.6B 46 83 60 76 56 58 43 1
Rambus Inc. 2.4B 43 83 41 95 54 48 44 1
Canadian Solar Inc. 2.0B 91 54 59 62 62 59 45 1
Axcelis Technologies, Inc. 1.9B 76 68 84 71 73 81 46 1
Himax Technologies, Inc. 1.6B 78 55 91 85 95 77 47 1
Impinj, Inc. 1.4B 63 68 79 39 92 72 48 1
Ultra Clean Holdings, Inc. 1.4B 56 78 69 48 67 63 49 1
Cohu, Inc. 1.3B 53 82 57 59 58 58 50 1
Photronics, Inc. 1.2B 53 85 66 76 66 69 51 1
SMART Global Holdings, Inc. 1.0B 89 63 75 95 82 86 52 1
Veeco Instruments Inc. 1.0B 84 71 41 78 47 58 53 1
Alpha and Omega Semiconductor Limited 929.5M 89 63 68 87 67 77 54 1
PDF Solutions, Inc. 808.6M 54 81 63 90 51 63 55 1
CEVA, Inc. 778.5M 81 74 60 87 60 73 56 1
Ichor Holdings, Ltd. 754.1M 59 76 66 38 63 60 57 1
Maxeon Solar Technologies, Ltd. 575.9M 87 68 40 78 38 53 58 1
Enphase Energy, Inc. 25.7B 89 60 39 97 56 58 59 1
Wolfspeed, Inc. 8.2B 96 63 59 97 55 74 60 1
Daqo New Energy Corp. 5.0B 91 62 81 95 93 93 61 1
SiTime Corporation 3.6B 57 67 66 73 64 59 62 1
Onto Innovation Inc. 3.6B 83 70 67 72 73 78 63 1
JinkoSolar Holding Co., Ltd. 3.2B 86 62 77 94 94 89 64 1
Camtek Ltd. 1.1B 63 61 82 37 90 66 65 1
ACM Research, Inc. 917.6M 87 57 51 43 50 52 66 1
NeoPhotonics Corporation 838.5M 89 66 49 72 64 66 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 60 93 47 85 74 72 68 1
indie Semiconductor, Inc. 720.1M 48 54 72 56 55 44 69 1
Magnachip Semiconductor Corporation 667.1M 56 78 79 72 72 74 70 1
Mykrolis Corp. 657.1M 77 53 73 92 79 72 71 1
Navitas Semiconductor Corporation 533.1M 37 80 80 62 79 67 72 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 60 71 61 60 69 56 73 1
Rigetti Computing, Inc. 413.5M 93 62 85 99 98 98 74 1
Meta Materials Inc. 396.9M 51 78 42 41 51 42 75 1
Helix Technology Corporation 364.9M 65 78 79 85 52 65 76 1
Valens Semiconductor Ltd. 357.2M 92 70 66 45 72 75 77 1
Rockley Photonics Holdings Limited 305.7M 49 82 40 37 52 42 78 1
CyberOptics Corporation 272.8M 71 66 72 64 86 75 79 1
Transphorm, Inc. 255.8M 41 86 39 47 54 45 80 1

Income Statement Analysis

Credo appears likely to maintain its strong income statement metrics and momentum going forward. Credo's management was effective in improving its EBIDTA, which now sits at -9.3 and represents a 14.6% change from the last reporting period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 13.2%. The company is headed in the right direction regarding EBITDA, exhibiting efficient capital controls and strong overall financial performance. The company's EBITDA movement, therefore, received a grade of 88. Also, Return factors metrics and ratios were exceptional in this report. Credo reported a return on equity (ROE) ratio of -9.3, representing a change of -111.0% from the last report. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. The company's return factors (ROA & ROE) components, therefore, received a grade of 61. That said, one metric, Revenue Efficiency, stood out as particularly concerning. Credo's revenue efficiency metrics look especially concerning this period, highlighting issues management is having controlling and reducing expenses while increasing earnings. This metric might have a 18.5 percent impact on companies in the same industry and with the same market capitalization. Its uninspiring revenue efficiency is even more concerning relative to its peers and competitors in the current market. Consequently, their revenue efficiency received a grade of 38. Therefore, it received a score of 60.

Parameter Value Change Score
EBITDA -9.3 14.6% 88
Total Revenues 106.5 20.0% 38
Return on Equity -9.3 -111.0% 61
* All values are TTM

The below chart describes Credo's performance as reflected on its income statement with respect to its peers. While Credo received a income statement score of 60 , the average of its peers stands on 60.0.

  •  CRDO
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
NVIDIA Corporation 400.2B 46 83 67 63 0 1
Intel Corporation 154.5B 90 55 74 76 1 1
QUALCOMM Incorporated 147.4B 48 87 78 66 2 1
Texas Instruments Incorporated 142.2B 69 78 70 74 3 1
Advanced Micro Devices, Inc. 130.9B 40 89 38 59 4 1
Broadcom Inc. 102.5B 59 80 90 71 5 1
Applied Materials, Inc. 82.7B 72 68 73 72 6 1
Analog Devices, Inc. 77.2B 40 91 92 65 7 1
Micron Technology, Inc. 64.6B 59 87 90 74 8 1
Lam Research Corporation 60.8B 80 64 75 74 9 1
KLA Corporation 49.3B 56 77 76 67 10 1
NXP Semiconductors N.V. 40.5B 59 79 90 71 11 1
Marvell Technology, Inc. 38.5B 41 89 87 64 12 1
Microchip Technology Incorporated 33.0B 57 83 92 71 13 1
GLOBALFOUNDRIES Inc. 23.9B 50 92 86 70 14 1
ON Semiconductor Corporation 22.9B 53 92 94 73 15 1
Monolithic Power Systems, Inc. 18.5B 45 90 83 66 16 1
Skyworks Solutions, Inc. 15.5B 69 71 63 70 17 1
SolarEdge Technologies, Inc. 15.5B 41 70 48 53 18 1
Teradyne, Inc. 15.3B 88 57 62 75 19 1
Entegris, Inc. 14.1B 56 80 80 69 20 1
Qorvo, Inc. 10.2B 76 65 63 72 21 1
First Solar, Inc. 7.2B 98 43 40 73 22 1
Lattice Semiconductor Corporation 6.8B 54 88 89 71 23 1
MKS Instruments, Inc. 5.8B 78 67 65 74 24 1
Silicon Laboratories Inc. 5.3B 44 96 98 70 25 1
Universal Display Corporation 5.2B 71 64 61 68 26 1
CMC Materials, Inc. 5.1B 72 75 93 76 27 1
Tower Semiconductor Ltd. 5.1B 63 87 82 79 28 1
Synaptics Incorporated 4.9B 45 91 90 68 29 1
Power Integrations, Inc. 4.4B 80 76 82 80 30 1
Amkor Technology, Inc. 4.2B 63 76 77 70 31 1
Cirrus Logic, Inc. 4.1B 42 92 93 67 32 1
Allegro MicroSystems, Inc. 4.0B 68 48 69 61 33 1
Semtech Corporation 3.5B 64 84 87 75 34 1
MACOM Technology Solutions Holdings, Inc. 3.3B 74 77 72 76 35 1
FormFactor, Inc. 3.1B 79 76 83 80 36 1
Diodes Incorporated 3.0B 66 83 86 76 37 1
SunPower Corporation 3.0B 49 43 74 49 38 1
Silicon Motion Technology Corporation 2.8B 54 83 78 72 39 1
MaxLinear, Inc. 2.7B 56 92 96 75 40 1
Nova Ltd. 2.7B 41 89 78 69 41 1
Ambarella, Inc. 2.6B 56 89 79 72 42 1
Kulicke and Soffa Industries, Inc. 2.6B 73 82 85 79 43 1
Rambus Inc. 2.4B 48 86 60 64 44 1
Canadian Solar Inc. 2.0B 73 76 53 72 45 1
Axcelis Technologies, Inc. 1.9B 44 91 91 67 46 1
Himax Technologies, Inc. 1.6B 53 84 66 70 47 1
Impinj, Inc. 1.4B 64 53 51 59 48 1
Ultra Clean Holdings, Inc. 1.4B 53 73 71 63 49 1
Cohu, Inc. 1.3B 92 53 49 75 50 1
Photronics, Inc. 1.2B 55 86 92 71 51 1
SMART Global Holdings, Inc. 1.0B 48 87 66 65 52 1
Veeco Instruments Inc. 1.0B 66 84 91 76 53 1
Alpha and Omega Semiconductor Limited 929.5M 62 75 76 69 54 1
PDF Solutions, Inc. 808.6M 49 95 88 71 55 1
CEVA, Inc. 778.5M 51 90 97 71 56 1
Ichor Holdings, Ltd. 754.1M 72 60 54 67 57 1
Maxeon Solar Technologies, Ltd. 575.9M 50 49 60 49 58 1
Enphase Energy, Inc. 25.7B 45 74 55 57 59 1
Wolfspeed, Inc. 8.2B 49 90 86 69 60 1
Daqo New Energy Corp. 5.0B 37 95 94 65 61 1
SiTime Corporation 3.6B 40 93 78 64 62 1
Onto Innovation Inc. 3.6B 47 87 89 67 63 1
JinkoSolar Holding Co., Ltd. 3.2B 38 89 82 62 64 1
Camtek Ltd. 1.1B 50 81 71 68 65 1
ACM Research, Inc. 917.6M 88 43 42 67 66 1
NeoPhotonics Corporation 838.5M 45 95 90 69 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 90 59 63 70 68 1
indie Semiconductor, Inc. 720.1M 37 46 71 43 69 1
Magnachip Semiconductor Corporation 667.1M 94 80 88 90 70 1
Mykrolis Corp. 657.1M 68 68 58 67 71 1
Navitas Semiconductor Corporation 533.1M 56 44 74 53 72 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 87 49 76 66 73 1
Rigetti Computing, Inc. 413.5M 92 43 69 72 74 1
Meta Materials Inc. 396.9M 37 45 72 43 75 1
Helix Technology Corporation 364.9M 89 47 50 74 76 1
Valens Semiconductor Ltd. 357.2M 41 86 65 65 77 1
Rockley Photonics Holdings Limited 305.7M 97 50 85 79 78 1
CyberOptics Corporation 272.8M 54 86 87 71 79 1
Transphorm, Inc. 255.8M 37 81 97 68 80 1

Cash Flow Analysis

A few key cash flow metrics in this report were discouraging. Credo's published capital expenditures (CapEx) numbers were discouraging and reflected management's unbalanced growth strategy. Credo recorded CapEx of -17.6, which represents a -135.8% change from the previous report. They appears to be headed in the wrong direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Consequently, their CapEx movement received a grade of 37. Also, Credo's asset turnover numbers were discouraging, reflecting significant concerns related to management's ability to leverage assets to generate sales effectively and efficiently. Credo recorded asset turnover of 0.4, which represents a -10.0% change from the previous report. Companies in the same industry and market capitalization are typically affected by this parameter by up to 10.7%. The company's asset turnover metrics seem especially problematic relative to their peers. Therefore, their asset turnover movement earned a score of 43. At the same time, one {cash_flow} metric, Free Cash flow, was actually strongly positive. Free cash flow numbers published by Credo were -0.5, which was a 26.6% change from the previous filing. Companies in the same industry and market capitalization are typically affected by this parameter by up to 7.4%. Their free cash flow situation is all the more impressive relative to their peers and competitors. Therefore, its free cash flow movement earned a score of 85. their cash flow, therefore, earned a score of 53.

Parameter Value Change Score
Net Cashflow 155.6 23.5% 60
Capital Expenditure -17.6 -135.8% 37
Asset Turnover 0.4 -10.0% 43
Free Cashflow -0.5 26.6% 85
* All values are TTM

The below chart describes Credo's performance as reflected on its cash flow with respect to its peers. While Credo received a cash flow score of 53, the average of its peers stands on 53.0.

  •  CRDO
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
NVIDIA Corporation 400.2B 93 65 61 86 82 0 1
Intel Corporation 154.5B 58 72 68 53 58 1 1
QUALCOMM Incorporated 147.4B 65 65 70 87 77 2 1
Texas Instruments Incorporated 142.2B 74 74 63 69 70 3 1
Advanced Micro Devices, Inc. 130.9B 93 66 69 37 57 4 1
Broadcom Inc. 102.5B 75 76 87 89 85 5 1
Applied Materials, Inc. 82.7B 75 59 69 72 69 6 1
Analog Devices, Inc. 77.2B 78 76 51 94 84 7 1
Micron Technology, Inc. 64.6B 81 85 81 74 80 8 1
Lam Research Corporation 60.8B 72 60 56 75 69 9 1
KLA Corporation 49.3B 70 76 52 79 74 10 1
NXP Semiconductors N.V. 40.5B 59 72 51 85 73 11 1
Marvell Technology, Inc. 38.5B 94 84 58 46 65 12 1
Microchip Technology Incorporated 33.0B 80 79 48 84 79 13 1
GLOBALFOUNDRIES Inc. 23.9B 54 86 45 64 63 14 1
ON Semiconductor Corporation 22.9B 60 79 55 74 70 15 1
Monolithic Power Systems, Inc. 18.5B 84 78 59 74 77 16 1
Skyworks Solutions, Inc. 15.5B 78 57 79 73 71 17 1
SolarEdge Technologies, Inc. 15.5B 46 38 55 52 43 18 1
Teradyne, Inc. 15.3B 75 65 66 68 68 19 1
Entegris, Inc. 14.1B 61 57 50 76 65 20 1
Qorvo, Inc. 10.2B 78 65 87 71 73 21 1
First Solar, Inc. 7.2B 47 85 56 46 53 22 1
Lattice Semiconductor Corporation 6.8B 79 77 43 82 77 23 1
MKS Instruments, Inc. 5.8B 58 58 92 56 59 24 1
Silicon Laboratories Inc. 5.3B 71 89 81 87 86 25 1
Universal Display Corporation 5.2B 75 81 68 65 71 26 1
CMC Materials, Inc. 5.1B 72 66 68 80 74 27 1
Tower Semiconductor Ltd. 5.1B 76 57 55 59 68 28 1
Synaptics Incorporated 4.9B 85 62 98 55 66 29 1
Power Integrations, Inc. 4.4B 88 77 64 82 82 30 1
Amkor Technology, Inc. 4.2B 46 57 62 71 60 31 1
Cirrus Logic, Inc. 4.1B 83 98 61 90 90 32 1
Allegro MicroSystems, Inc. 4.0B 56 56 77 56 56 33 1
Semtech Corporation 3.5B 79 78 58 79 77 34 1
MACOM Technology Solutions Holdings, Inc. 3.3B 46 78 54 78 68 35 1
FormFactor, Inc. 3.1B 78 81 66 58 67 36 1
Diodes Incorporated 3.0B 77 61 52 80 72 37 1
SunPower Corporation 3.0B 84 41 39 93 74 38 1
Silicon Motion Technology Corporation 2.8B 63 53 46 85 61 39 1
MaxLinear, Inc. 2.7B 90 92 80 81 88 40 1
Nova Ltd. 2.7B 58 53 39 58 54 41 1
Ambarella, Inc. 2.6B 84 95 45 75 79 42 1
Kulicke and Soffa Industries, Inc. 2.6B 93 81 83 74 82 43 1
Rambus Inc. 2.4B 96 73 89 88 89 44 1
Canadian Solar Inc. 2.0B 69 70 74 66 71 45 1
Axcelis Technologies, Inc. 1.9B 81 77 68 84 82 46 1
Himax Technologies, Inc. 1.6B 66 77 48 77 66 47 1
Impinj, Inc. 1.4B 70 38 85 73 65 48 1
Ultra Clean Holdings, Inc. 1.4B 68 41 41 76 61 49 1
Cohu, Inc. 1.3B 92 62 71 44 59 50 1
Photronics, Inc. 1.2B 65 92 96 79 82 51 1
SMART Global Holdings, Inc. 1.0B 48 85 95 53 62 52 1
Veeco Instruments Inc. 1.0B 74 82 48 69 71 53 1
Alpha and Omega Semiconductor Limited 929.5M 49 64 45 60 54 54 1
PDF Solutions, Inc. 808.6M 81 98 45 92 89 55 1
CEVA, Inc. 778.5M 57 54 84 83 71 56 1
Ichor Holdings, Ltd. 754.1M 51 37 87 70 58 57 1
Maxeon Solar Technologies, Ltd. 575.9M 87 90 59 88 84 58 1
Enphase Energy, Inc. 25.7B 89 77 64 41 60 59 1
Wolfspeed, Inc. 8.2B 57 74 76 46 55 60 1
Daqo New Energy Corp. 5.0B 78 86 63 96 89 61 1
SiTime Corporation 3.6B 83 87 56 44 62 62 1
Onto Innovation Inc. 3.6B 94 65 88 85 85 63 1
JinkoSolar Holding Co., Ltd. 3.2B 68 69 73 78 74 64 1
Camtek Ltd. 1.1B 69 70 74 72 71 65 1
ACM Research, Inc. 917.6M 61 43 50 54 50 66 1
NeoPhotonics Corporation 838.5M 50 63 67 87 71 67 1
Hanwha Q CELLS Co., Ltd. 818.9M 64 63 74 73 68 68 1
indie Semiconductor, Inc. 720.1M 69 80 52 98 85 69 1
Magnachip Semiconductor Corporation 667.1M 65 56 76 54 57 70 1
Mykrolis Corp. 657.1M 65 69 68 82 75 71 1
Navitas Semiconductor Corporation 533.1M 70 87 94 93 90 72 1
ChipMOS TECHNOLOGIES (Bermuda) LTD. 417.9M 66 64 68 94 73 73 1
Rigetti Computing, Inc. 413.5M 48 76 51 60 58 74 1
Meta Materials Inc. 396.9M 85 56 68 97 84 75 1
Helix Technology Corporation 364.9M 75 62 63 56 61 76 1
Valens Semiconductor Ltd. 357.2M 53 89 90 47 66 77 1
Rockley Photonics Holdings Limited 305.7M 79 72 66 47 60 78 1
CyberOptics Corporation 272.8M 49 74 89 77 72 79 1
Transphorm, Inc. 255.8M 81 88 96 95 88 80 1

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