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

Posted by Lisa Pomrenke on Mar 29th, 2025

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 Price Performance

NASDAQ:CRDO opened at $40.51 on Friday. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of -270.07 and a beta of 2.16. Credo Technology Group Holding Ltd has a 1-year low of $16.82 and a 1-year high of $86.69. The firm’s fifty day moving average price is $60.57 and its 200 day moving average price is $53.53.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CRDO shares. Craig Hallum boosted their price target on shares of Credo Technology Group from $38.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on shares of Credo Technology Group from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of Credo Technology Group in a research report on Wednesday, March 5th. Stifel Nicolaus upped their price target on Credo Technology Group from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Susquehanna raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $74.90.

Check Out Our Latest Stock Report on CRDO

Insider Activity

In related news, Director Lip Bu Tan sold 150,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $76.09, for a total value of $11,413,500.00. Following the transaction, the director now directly owns 1,113,725 shares of the company’s stock, valued at approximately $84,743,335.25. This trade represents a 11.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Yat Tung Lam sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $45.23, for a total value of $452,300.00. Following the sale, the chief operating officer now directly owns 2,802,447 shares of the company’s stock, valued at approximately $126,754,677.81. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,130,665 shares of company stock valued at $76,241,092 in the last 90 days. 16.04% of the stock is currently owned by insiders.

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new position in shares of Credo Technology Group during the fourth quarter valued at approximately $38,000. WASHINGTON TRUST Co purchased a new position in shares of Credo Technology Group during the 4th quarter worth $43,000. Principal Securities Inc. increased its stake in Credo Technology Group by 626.1% in the fourth quarter. Principal Securities Inc. now owns 668 shares of the company’s stock valued at $45,000 after purchasing an additional 576 shares during the last quarter. Quarry LP acquired a new stake in Credo Technology Group in the 4th quarter worth about $58,000. Finally, Plato Investment Management Ltd purchased a new stake in Credo Technology Group in the 4th quarter valued at about $61,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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

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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.