Added to YB: 2026-04-29
Pitch date: 2026-04-27
CRDO [bullish]
Credo Technology Group Holding Ltd
-1.94%
current return
Author Info
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Company Info
Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.
Market Cap
$36.0B
Pitch Price
$169.21
Price Target
250.00 (+51%)
Dividend
N/A
EV/EBITDA
97.73
P/E
106.99
EV/Sales
32.48
Sector
Semiconductors and Semiconductor Equipment
Category
growth
Credo Technology Group Holding Ltd - $CRDO
CRDO: Fabless semi for AI data centre interconnect, grew 126% FY25, guiding >75% FY27 to ~$2.3B+. AEC cables (70% mkt share) & optical transceivers at 67-68% adj gross margin via N-1 node cost edge. $750M DustPhotonics buy adds SiPho PICs, hedges CPO risk, targets $500M optical rev FY27. Risks: 3-4 customers = all revenue (Microsoft/AWS/likely Google); Q4 gross margin guide 64-66% (down from 68.6% Q3) on optical mix shift; DustPhotonics integration unproven at this scale; Marvell Golden Cable emerging competitor. Bull: mgmt consistently underguides 15-20%, 1.6T Cardinal DSP ramp, TensorWave & Tier 2 diversification. Bear: single top customer 25% volume cut = revenue miss + multiple compression 15x→10x. FY27 adj EPS est ~$5, 22-28x = $150-200 PT. Watch June 3 annual report for concentration disclosure.
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