Credo Technology Group (NASDAQ:CRDO) Shares Unloaded Rep. Robert Bresnahan, Jr.

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

Shares of CRDO stock traded down $1.92 during mid-day trading on Friday, reaching $40.51. 3,010,017 shares of the company were exchanged, compared to its average volume of 3,334,164. The company has a market capitalization of $6.88 billion, a P/E ratio of -270.07 and a beta of 2.16. The business’s 50 day simple moving average is $60.57 and its 200 day simple moving average is $53.53. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69.

Analysts Set New Price Targets

CRDO has been the subject of a number of research reports. Craig Hallum lifted their price target on Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Stifel Nicolaus lifted their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and set a $80.00 target price on shares of Credo Technology Group in a report on Wednesday, March 5th. Finally, Barclays lifted their price target on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $74.90.

Institutional Investors Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of CRDO. Norges Bank bought a new stake in Credo Technology Group during the fourth quarter worth approximately $117,242,000. Point72 Asset Management L.P. boosted its stake in shares of Credo Technology Group by 73.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company’s stock worth $120,627,000 after acquiring an additional 1,660,230 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Credo Technology Group by 299.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,740,982 shares of the company’s stock worth $117,011,000 after acquiring an additional 1,305,594 shares during the last quarter. Polar Capital Holdings Plc raised its position in shares of Credo Technology Group by 382.1% during the fourth quarter. Polar Capital Holdings Plc now owns 1,451,084 shares of the company’s stock worth $97,527,000 after purchasing an additional 1,150,084 shares during the period. Finally, FMR LLC lifted its holdings in shares of Credo Technology Group by 731.6% during the third quarter. FMR LLC now owns 1,152,361 shares of the company’s stock valued at $35,493,000 after purchasing an additional 1,013,789 shares during the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Credo Technology Group news, COO Yat Tung Lam sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $69.52, for a total transaction of $6,952,000.00. Following the completion of the sale, the chief operating officer now directly owns 300,000 shares in the company, valued at approximately $20,856,000. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lip Bu Tan sold 150,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $76.09, for a total value of $11,413,500.00. Following the completion of the transaction, the director now owns 1,113,725 shares in the company, valued at $84,743,335.25. This represents a 11.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,130,665 shares of company stock valued at $76,241,092. 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.