Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 16.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,311 shares of the semiconductor company’s stock after selling 4,314 shares during the quarter. GM Advisory Group LLC’s holdings in Marvell Technology were worth $2,464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth $366,896,000. Temasek Holdings Private Ltd lifted its position in shares of Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Marvell Technology during the third quarter worth $120,116,000. Perpetual Ltd lifted its position in shares of Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Raymond James set a $110.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,685 shares of company stock worth $4,026,768. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 3.0 %

Marvell Technology stock opened at $68.28 on Wednesday. The company has a 50-day simple moving average of $101.86 and a 200-day simple moving average of $93.89. The firm has a market capitalization of $59.13 billion, a P/E ratio of -40.16, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.