10 Firms Buck Market Slump on Impressive Earnings, New Deals

7. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Credo Technology grew for a fourth day on Friday, adding another 8.39 percent to its valuation to finish at $70.02 apiece as investors gobbled up shares amid various bullish reports in the company.

Over the past six months alone, Credo Technology was able to grow its value by nearly 150 percent. Its current valuation also marked a 207.91 percent increase over the past year.

Earlier this month, Mizuho Financial analyst Vijay Rakesh raised his price target for Credo Technology by 21 percent to $85 from $70 previously and kept an “outperform” rating on the company.

According to Rakesh, he sees continued strength in artificial intelligence, custom silicon, and connectivity, the benefits of which will create a ripple effect in the company. He added that AI will benefit memory and storage.

Credo Technology is a company engaged in providing secure, high-speed connectivity solutions that deliver improved power and cost efficiency as data rates and corresponding bandwidth requirements increase exponentially throughout the data infrastructure market.