Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% in the fourth quarter, Holdings Channel reports. The fund owned 193,360 shares of the semiconductor company’s stock after selling 9,160 shares during the period. Commonwealth Equity Services LLC’s holdings in Marvell Technology were worth $21,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB lifted its stake in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after acquiring an additional 23,680 shares during the period. KBC Group NV increased its position in Marvell Technology by 7.2% during the 3rd quarter. KBC Group NV now owns 121,865 shares of the semiconductor company’s stock worth $8,788,000 after purchasing an additional 8,155 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Marvell Technology by 89.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 44,578 shares of the semiconductor company’s stock valued at $3,215,000 after buying an additional 21,048 shares during the period. CIBC Asset Management Inc grew its holdings in Marvell Technology by 6.7% during the third quarter. CIBC Asset Management Inc now owns 190,403 shares of the semiconductor company’s stock worth $13,732,000 after acquiring an additional 11,912 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Marvell Technology by 55.4% in the third quarter. Natixis Advisors LLC now owns 1,068,155 shares of the semiconductor company’s stock valued at $77,035,000 after acquiring an additional 380,876 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on 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 approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,755 shares of company stock valued at $3,412,230 in the last ninety days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays dropped their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Price Performance

Shares of MRVL stock opened at $68.74 on Monday. The firm has a fifty day simple moving average of $103.79 and a 200-day simple moving average of $93.94. The company has a market capitalization of $59.48 billion, a PE ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

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.