Rep. Robert Bresnahan, Jr. Sells Off Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Credo Technology Group Holding Ltd NASDAQ: CRDO. In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Credo Technology Group stock on March 4th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 3/7/2025.
• Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/6/2025.
• Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/5/2025.
• Purchased $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 3/4/2025.
• Purchased $1,001 - $15,000 in shares of Twilio NYSE: TWLO on 3/4/2025.
• Sold $15,001 - $50,000 in shares of Alibaba Group NYSE: BABA on 3/4/2025.
• Purchased $1,001 - $15,000 in shares of Zoom Video Communications NASDAQ: ZM on 3/4/2025.
• Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/3/2025.
• Purchased $1,001 - $15,000 in shares of Snowflake NYSE: SNOW on 3/3/2025.
• Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 3/3/2025.

Credo Technology Group Stock Performance

Credo Technology Group stock traded up $2.28 during trading on Wednesday, hitting $44.00. The company's stock had a trading volume of 1,546,974 shares, compared to its average volume of 3,344,744. The stock's fifty day moving average is $58.98 and its 200 day moving average is $54.10. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of -290.61 and a beta of 2.16.

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Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC lifted its position in Credo Technology Group by 3.3% during the 3rd quarter. Natixis Advisors LLC now owns 28,833 shares of the company's stock worth $888,000 after acquiring an additional 934 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Credo Technology Group by 11.3% during the third quarter. Advisors Asset Management Inc. now owns 4,722 shares of the company's stock worth $145,000 after purchasing an additional 478 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Credo Technology Group during the third quarter worth $1,311,000. Charles Schwab Investment Management Inc. grew its holdings in Credo Technology Group by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company's stock valued at $35,006,000 after purchasing an additional 95,335 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Credo Technology Group by 240.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,982 shares of the company's stock worth $61,000 after buying an additional 1,399 shares during the period. Hedge funds and other institutional investors own 80.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Bank of America cut their price target on shares of Credo Technology Group from $83.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and set a $80.00 price objective on shares of Credo Technology Group in a research note on Wednesday, March 5th. Craig Hallum increased their target price on Credo Technology Group from $38.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Finally, Barclays lifted their target price on Credo Technology Group from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $74.90.

Insiders Place Their Bets

In related news, CFO Daniel W. Fleming sold 3,790 shares of Credo Technology Group stock in a transaction on Friday, January 10th. The shares were sold at an average price of $72.61, for a total value of $275,191.90. Following the completion of the sale, the chief financial officer now owns 638,564 shares in the company, valued at approximately $46,366,132.04. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Yat Tung Lam sold 10,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $80.59, for a total transaction of $805,900.00. Following the transaction, the chief operating officer now owns 2,825,621 shares in the company, valued at $227,716,796.39. This trade represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,030,665 shares of company stock worth $69,289,092 in the last quarter. 16.04% of the stock is owned by corporate insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.