Semanteon Capital Management LP Acquires Shares of 13,334 Marvell Technology, Inc. (NASDAQ:MRVL)

Semanteon Capital Management LP bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, Holdings Channel reports. The fund bought 13,334 shares of the semiconductor company’s stock, valued at approximately $1,473,000. Marvell Technology makes up 0.8% of Semanteon Capital Management LP’s portfolio, making the stock its 13th biggest holding.

Several other institutional investors also recently modified their holdings of MRVL. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology in the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology during the 4th quarter valued at approximately $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $70.49 on Friday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market capitalization of $61.05 billion, a price-to-earnings ratio of -41.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $99.94 and a 200 day moving average of $93.56.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald boosted their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Evercore ISI increased their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. KeyCorp decreased their target price on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Raymond James set a $110.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Company 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.