Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Credo Technology Group Holding Ltd NASDAQ: CRDO. In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Credo Technology Group stock on January 29th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Sold $15,001 - $50,000 in shares of Lowe's Companies NYSE: LOW on 2/7/2025.
- Purchased $1,001 - $15,000 in shares of ServiceNow NYSE: NOW on 2/3/2025.
- Purchased $1,001 - $15,000 in shares of Take-Two Interactive Software NASDAQ: TTWO on 2/3/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 2/3/2025.
- Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 1/30/2025.
- Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 1/30/2025.
- Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 1/29/2025.
- Sold $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 1/29/2025.
- Sold $1,001 - $15,000 in shares of Manhattan Associates NASDAQ: MANH on 1/29/2025.
- Purchased $1,001 - $15,000 in shares of Alibaba Group NYSE: BABA on 1/29/2025.
Credo Technology Group Trading Up 4.2 %
NASDAQ CRDO traded up $3.00 during trading hours on Tuesday, reaching $73.70. 1,725,142 shares of the company's stock were exchanged, compared to its average volume of 5,210,434. The firm has a fifty day moving average of $72.16 and a 200-day moving average of $49.55. Credo Technology Group Holding Ltd has a one year low of $16.82 and a one year high of $86.69. The stock has a market cap of $12.33 billion, a PE ratio of -493.06 and a beta of 2.09.
Insider Activity at Credo Technology Group
In related news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $66.96, for a total value of $125,550.00. Following the sale, the director now owns 5,902,402 shares of the company's stock, valued at approximately $395,224,837.92. This trade represents a 0.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Joseph Brennan sold 143,880 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $67.65, for a total value of $9,733,482.00. Following the transaction, the chief executive officer now directly owns 2,370,858 shares of the company's stock, valued at approximately $160,388,543.70. This trade represents a 5.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,305,679 shares of company stock worth $89,862,242. 16.04% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CRDO. 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 report on Tuesday, December 3rd. Barclays increased their price objective on shares of Credo Technology Group from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. TD Cowen boosted their target price on shares of Credo Technology Group from $45.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group increased their price target on shares of Credo Technology Group from $65.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Needham & Company LLC boosted their price objective on shares of Credo Technology Group from $43.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.40.
Read Our Latest Report on CRDO
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in CRDO. Nisa Investment Advisors LLC increased its holdings in Credo Technology Group by 8.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company's stock valued at $225,000 after purchasing an additional 255 shares during the last quarter. Assetmark Inc. grew its position in shares of Credo Technology Group by 5.4% during the 3rd quarter. Assetmark Inc. now owns 4,978 shares of the company's stock worth $153,000 after buying an additional 257 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Credo Technology Group by 51.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,028 shares of the company's stock valued at $75,000 after acquiring an additional 348 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Credo Technology Group by 56.3% in the 4th quarter. GAMMA Investing LLC now owns 974 shares of the company's stock valued at $65,000 after acquiring an additional 351 shares during the period. Finally, Amalgamated Bank boosted its stake in Credo Technology Group by 9.4% during the 4th quarter. Amalgamated Bank now owns 4,777 shares of the company's stock worth $321,000 after acquiring an additional 411 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company's stock.
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
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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.
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