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

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 Price Performance

Shares of CRDO opened at $55.18 on Friday. The firm has a market capitalization of $9.23 billion, a PE ratio of -367.87 and a beta of 2.09. The company’s 50-day moving average is $71.27 and its 200-day moving average is $51.38. Credo Technology Group Holding Ltd has a fifty-two week low of $16.82 and a fifty-two week high of $86.69.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, COO Yat Tung Lam sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $61.13, for a total transaction of $6,113,000.00. Following the completion of the transaction, the chief operating officer now owns 1,000,000 shares in the company, valued at approximately $61,130,000. This trade represents a 9.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Joseph Brennan sold 143,880 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $67.65, for a total transaction of $9,733,482.00. Following the transaction, the chief executive officer now owns 2,370,858 shares of the company’s stock, valued at approximately $160,388,543.70. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,405,679 shares of company stock worth $95,975,242 in the last quarter. 16.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in Credo Technology Group during the third quarter worth about $3,948,000. Wellington Management Group LLP grew its stake in Credo Technology Group by 32.7% during the third quarter. Wellington Management Group LLP now owns 2,863,245 shares of the company’s stock worth $88,188,000 after buying an additional 705,512 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Credo Technology Group in the 3rd quarter valued at approximately $553,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Credo Technology Group by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,557 shares of the company’s stock valued at $35,006,000 after purchasing an additional 95,335 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Credo Technology Group by 94.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 243,719 shares of the company’s stock valued at $7,507,000 after purchasing an additional 118,169 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CRDO shares. Needham & Company LLC increased their price objective on shares of Credo Technology Group from $43.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Craig Hallum increased their price objective on shares of Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. TD Cowen increased their price objective on shares of Credo Technology Group from $45.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Mizuho increased their price objective on shares of Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Bank of America raised shares of Credo Technology Group from an “underperform” rating to a “buy” rating and increased their price objective for the company from $27.00 to $80.00 in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Credo Technology Group currently has an average rating of “Moderate Buy” and a consensus target price of $76.40.

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.