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 Performance

NASDAQ:CRDO opened at $52.60 on Friday. Credo Technology Group Holding Ltd has a 1 year low of $16.82 and a 1 year high of $86.69. The stock has a market cap of $8.80 billion, a P/E ratio of -350.67 and a beta of 2.09. The stock has a 50-day simple moving average of $71.56 and a 200-day simple moving average of $51.37.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 143,880 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were 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 directly owns 2,370,858 shares in the company, valued at $160,388,543.70. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $48.57, for a total transaction of $2,671,350.00. Following the transaction, the chief technology officer now directly owns 8,618,602 shares of the company’s stock, valued at $418,605,499.14. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,305,679 shares of company stock valued at $89,862,242. 16.04% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Susquehanna started coverage on shares of Credo Technology Group in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $80.00 price target on the stock. TD Cowen increased their target price 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. Stifel Nicolaus boosted their price target 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. Needham & Company LLC raised their price objective on Credo Technology Group from $43.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Mizuho lifted their target price on Credo Technology Group from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.40.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds have recently made changes to their positions in CRDO. B. Riley Wealth Advisors Inc. acquired a new stake in Credo Technology Group during the 4th quarter worth approximately $498,000. Mackenzie Financial Corp raised its stake in shares of Credo Technology Group by 395.3% during the fourth quarter. Mackenzie Financial Corp now owns 38,144 shares of the company’s stock worth $2,564,000 after purchasing an additional 30,443 shares during the last quarter. Forum Financial Management LP purchased a new stake in shares of Credo Technology Group during the fourth quarter worth approximately $253,000. GTS Securities LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $323,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Credo Technology Group in the 4th quarter valued at $218,000. Institutional investors and hedge funds own 80.46% 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.

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.