Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 200,483 shares of the semiconductor company’s stock after purchasing an additional 15,888 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Marvell Technology were worth $22,369,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the 4th quarter worth approximately $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of research reports. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp reduced their target price on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. UBS Group increased their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Raymond James set a $110.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Trading Down 1.6 %

Shares of Marvell Technology stock opened at $68.76 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market capitalization of $59.50 billion, a P/E ratio of -40.45, a PEG ratio of 1.61 and a beta of 1.42. The company’s fifty day moving average is $105.68 and its two-hundred day moving average is $93.77.

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.