Sen. Markwayne Mullin Buys Credo Technology Group Holding Ltd (NASDAQ:CRDO) Shares

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO). In a filing disclosed on February 27th, the Senator disclosed that they had bought between $1,001 and $15,000 in Credo Technology Group stock on February 3rd.

Senator Markwayne Mullin also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Honeywell International (NASDAQ:HON) on 2/13/2025.
• Purchased $15,001 – $50,000 in shares of IQVIA (NYSE:IQV) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Brick (TSE:BRK) on 2/13/2025.
• Sold $100,001 – $250,000 in shares of Vanguard Materials ETF (NYSEARCA:VAW) on 2/13/2025.
• Purchased $50,001 – $100,000 in shares of Microsoft (NASDAQ:MSFT) on 2/13/2025.
• Sold $15,001 – $50,000 in shares of Constellation Brands (NYSE:STZ) on 2/13/2025.
• Purchased $50,001 – $100,000 in shares of LPL Financial (NASDAQ:LPLA) on 2/13/2025.
• Purchased $15,001 – $50,000 in shares of TJX Companies (NYSE:TJX) on 2/13/2025.
• Sold $50,001 – $100,000 in shares of Advanced Micro Devices (NASDAQ:AMD) on 2/13/2025.

Credo Technology Group Stock Up 4.9 %

Credo Technology Group stock opened at $55.18 on Friday. The company has a market cap of $9.23 billion, a price-to-earnings ratio of -367.87 and a beta of 2.09. The firm’s fifty day moving average is $71.00 and its 200 day moving average is $51.57. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Credo Technology Group by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 13,142,773 shares of the company’s stock worth $404,797,000 after purchasing an additional 909,578 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Credo Technology Group by 73.6% in the third quarter. Point72 Asset Management L.P. now owns 3,916,447 shares of the company’s stock worth $120,627,000 after purchasing an additional 1,660,230 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Credo Technology Group by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 3,315,482 shares of the company’s stock worth $222,884,000 after purchasing an additional 138,686 shares during the last quarter. Swedbank AB grew its holdings in shares of Credo Technology Group by 873.9% in the third quarter. Swedbank AB now owns 3,300,314 shares of the company’s stock worth $101,650,000 after purchasing an additional 2,961,454 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Credo Technology Group by 32.7% in the third quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock worth $88,188,000 after purchasing an additional 705,512 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CRDO. Craig Hallum upped their price target on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Mizuho upped their price target on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Barclays upped their price target on shares of Credo Technology Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. TD Cowen upped their price target on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus boosted their price objective on shares of Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.40.

Insider Transactions at Credo Technology Group

In related news, Director Pantas Sutardja sold 1,875 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $66.96, for a total value of $125,550.00. Following the completion of the sale, the director now directly owns 5,902,402 shares of the company’s stock, valued at $395,224,837.92. This represents a 0.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Yat Tung Lam sold 100,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $61.13, for a total transaction of $6,113,000.00. Following the completion of the sale, the chief operating officer now directly owns 1,000,000 shares of the company’s stock, valued at approximately $61,130,000. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,405,679 shares of company stock worth $95,975,242. Insiders own 16.04% of the company’s stock.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.