Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,108 shares of the semiconductor company’s stock after selling 166 shares during the quarter. Moors & Cabot Inc.’s holdings in Marvell Technology were worth $564,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $27,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MRVL. Needham & Company LLC reduced their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Morgan Stanley reduced their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Barclays reduced their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. UBS Group lifted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Activity

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

Marvell Technology Price Performance

MRVL opened at $68.74 on Friday. The company has a 50-day moving average of $104.78 and a 200-day moving average of $93.60. The company has a market capitalization of $59.48 billion, a P/E ratio of -40.44, a PEG ratio of 1.61 and a beta of 1.42. 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.

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.