Cibc World Markets Corp Has $6.45 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Cibc World Markets Corp cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 36.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 58,390 shares of the semiconductor company’s stock after selling 32,979 shares during the quarter. Cibc World Markets Corp’s holdings in Marvell Technology were worth $6,449,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MRVL. Swedbank AB raised its position in Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the last quarter. Belmont Capital LLC bought a new position in shares of Marvell Technology during the third quarter valued at about $1,082,000. Whalen Wealth Management Inc. boosted its holdings in Marvell Technology by 21.6% during the third quarter. Whalen Wealth Management Inc. now owns 11,826 shares of the semiconductor company’s stock worth $853,000 after purchasing an additional 2,097 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in Marvell Technology by 36.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,314 shares of the semiconductor company’s stock worth $527,000 after purchasing an additional 1,954 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in Marvell Technology by 2.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 42,186 shares of the semiconductor company’s stock valued at $3,043,000 after buying an additional 1,184 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 3.0 %

Shares of NASDAQ MRVL opened at $68.28 on Wednesday. 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 business has a 50-day moving average of $101.86 and a 200-day moving average of $93.89. The firm has a market capitalization of $59.13 billion, a price-to-earnings ratio of -40.16, a PEG 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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC cut their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. B. Riley upped their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Stifel Nicolaus decreased their price objective on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Roth Capital set a $100.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price 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.