Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,312 shares of the semiconductor company’s stock after buying an additional 147 shares during the period. Erste Asset Management GmbH’s holdings in Marvell Technology were worth $11,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MRVL. Raymond James Financial Inc. acquired a new stake in Marvell Technology in the fourth quarter valued at $366,896,000. Temasek Holdings Private Ltd grew its stake in shares of Marvell Technology by 581.8% during the 3rd 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 during the period. Holocene Advisors LP purchased a new position in shares of Marvell Technology in the 3rd quarter valued at about $120,116,000. Perpetual Ltd lifted its stake in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after purchasing an additional 682,457 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in 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 buying an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MRVL. Evercore ISI increased their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Needham & Company LLC dropped their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. UBS Group upped their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Raymond James set a $110.00 price target on Marvell Technology in a research note on Thursday, March 6th. Three 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, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Buying and Selling

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

Marvell Technology stock opened at $68.76 on Friday. The company has a market cap of $59.50 billion, a price-to-earnings ratio of -40.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock’s 50-day moving average is $105.68 and its 200-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.