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 Trading Down 4.5 %

CRDO opened at $40.51 on Friday. The firm has a 50-day moving average price of $60.57 and a two-hundred day moving average price of $53.73. 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 $6.88 billion, a PE ratio of -270.07 and a beta of 2.16.

Insider Buying and Selling at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 60,000 shares of Credo Technology Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.22, for a total value of $4,153,200.00. Following the sale, the chief technology officer now owns 8,448,602 shares of the company’s stock, valued at approximately $584,812,230.44. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Yat Tung Lam sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $69.52, for a total value of $6,952,000.00. Following the transaction, the chief operating officer now directly owns 300,000 shares of the company’s stock, valued at $20,856,000. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,130,665 shares of company stock worth $76,241,092. Insiders own 16.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Natixis Advisors LLC lifted its stake in Credo Technology Group by 3.3% in the 3rd quarter. Natixis Advisors LLC now owns 28,833 shares of the company’s stock valued at $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% in 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 Credo Technology Group during the third quarter worth $1,311,000. Charles Schwab Investment Management Inc. boosted its holdings in Credo Technology Group by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company’s stock worth $35,006,000 after purchasing an additional 95,335 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Credo Technology Group by 240.0% in the third quarter. Larson Financial Group LLC now owns 1,982 shares of the company’s stock valued at $61,000 after purchasing an additional 1,399 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRDO. TD Cowen upped their price target on Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. Susquehanna raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. The Goldman Sachs Group raised their price objective on Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus boosted their target price on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $74.90.

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.