Independent Advisor Alliance Raises Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Independent Advisor Alliance boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 83.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,780 shares of the semiconductor company’s stock after buying an additional 13,582 shares during the quarter. Independent Advisor Alliance’s holdings in Marvell Technology were worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% in the third 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 boosted its stake in Marvell Technology by 175.3% in the fourth 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 purchased a new stake in Marvell Technology in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth approximately $27,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brad W. Buss bought 3,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MRVL. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. The Goldman Sachs Group increased their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Evercore ISI increased their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Price Performance

MRVL opened at $69.85 on Thursday. The stock has a fifty day simple moving average of $106.49 and a two-hundred day simple moving average of $93.94. 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 company has a market cap of $60.44 billion, a price-to-earnings ratio of -41.09, 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.

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.