Rep. Robert Bresnahan, Jr. Buys Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Credo Technology Group Holding Ltd. NASDAQ: CRDO. In a filing disclosed on July 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Credo Technology Group stock on June 3rd. 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 $1,001 - $15,000 in shares of Zoom Communications NASDAQ: ZM on 6/25/2025.
• Purchased $1,001 - $15,000 in shares of Coinbase Global NASDAQ: COIN on 6/24/2025.
• Purchased $1,001 - $15,000 in shares of Circle Internet Group NYSE: CRCL on 6/24/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 6/23/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 6/13/2025.
• Sold $1,001 - $15,000 in shares of Atlassian NASDAQ: TEAM on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of ServiceTitan NASDAQ: TTAN on 6/11/2025.
• Sold $1,001 - $15,000 in shares of Datadog NASDAQ: DDOG on 6/11/2025.
• Sold $1,001 - $15,000 in shares of GitLab NASDAQ: GTLB on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 6/11/2025.

Credo Technology Group Stock Performance

NASDAQ:CRDO traded down $4.98 during trading hours on Friday, hitting $93.47. The company's stock had a trading volume of 7,194,156 shares, compared to its average volume of 4,241,175. The company has a market capitalization of $16.04 billion, a PE ratio of 346.19, a PEG ratio of 1.68 and a beta of 2.57. Credo Technology Group Holding Ltd. has a 52-week low of $22.50 and a 52-week high of $104.35. The business's 50-day moving average is $78.64 and its two-hundred day moving average is $63.62.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last posted its earnings results on Monday, June 2nd. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $159.59 million. Credo Technology Group had a net margin of 11.95% and a return on equity of 8.77%. The firm's revenue for the quarter was up 179.6% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. As a group, analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Lip Bu Tan sold 12,248 shares of Credo Technology Group stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $93.22, for a total transaction of $1,141,758.56. Following the completion of the sale, the director owned 467,180 shares of the company's stock, valued at $43,550,519.60. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel W. Fleming sold 3,790 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $97.29, for a total transaction of $368,729.10. Following the completion of the transaction, the chief financial officer owned 582,428 shares in the company, valued at approximately $56,664,420.12. This trade represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,078,139 shares of company stock worth $82,013,680 over the last quarter. Insiders own 16.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRDO. TD Cowen raised their price target on shares of Credo Technology Group from $85.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Cowen reissued a "buy" rating on shares of Credo Technology Group in a research note on Tuesday, June 3rd. Noble Financial raised shares of Credo Technology Group to a "strong-buy" rating in a research report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Credo Technology Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Stifel Nicolaus upped their price objective on shares of Credo Technology Group from $80.00 to $115.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Credo Technology Group currently has an average rating of "Buy" and an average target price of $85.64.

Hedge Funds Weigh In On Credo Technology Group

Several institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in Credo Technology Group by 27.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company's stock worth $270,000 after purchasing an additional 1,467 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credo Technology Group in the first quarter worth about $27,000. Teacher Retirement System of Texas grew its holdings in Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company's stock worth $1,405,000 after acquiring an additional 28,788 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Credo Technology Group in the 4th quarter valued at about $700,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Credo Technology Group by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,179,726 shares of the company's stock worth $79,289,000 after purchasing an additional 43,169 shares during the period. Hedge funds and other institutional investors 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.

Credo Technology Group Company Profile

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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