Wolff Wiese Magana LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,755 shares of the semiconductor company’s stock after selling 357 shares during the quarter. Marvell Technology accounts for about 1.5% of Wolff Wiese Magana LLC’s holdings, making the stock its 22nd largest position. Wolff Wiese Magana LLC’s holdings in Marvell Technology were worth $2,292,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Tsfg LLC increased its stake in shares of Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 111 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 116 shares during the period. Crumly & Associates Inc. grew its position in shares of Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after purchasing an additional 121 shares in the last quarter. United Capital Management of KS Inc. increased its position in shares of Marvell Technology by 0.4% during the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after buying an additional 131 shares during the period. Finally, Sunflower Bank N.A. increased its position in shares of Marvell Technology by 4.8% in the fourth quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock worth $332,000 after purchasing an additional 138 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.
Marvell Technology Trading Up 2.4 %
Shares of NASDAQ:MRVL opened at $117.94 on Wednesday. The stock’s 50-day simple moving average is $105.11 and its two-hundred day simple moving average is $83.63. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. 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 stock has a market capitalization of $102.05 billion, a price-to-earnings ratio of -69.38, a PEG ratio of 4.03 and a beta of 1.41.
Marvell Technology Dividend Announcement
Insider Transactions at Marvell Technology
In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,500 shares of company stock worth $2,967,670 in the last 90 days. 0.33% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. KeyCorp increased their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI increased their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Benchmark reissued a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Bank of America boosted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.68.
Get Our Latest Report on Marvell Technology
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.
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