Tocqueville Asset Management L.P. Sells 10,320 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Tocqueville Asset Management L.P. lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,761 shares of the semiconductor company’s stock after selling 10,320 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Marvell Technology were worth $38,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth $26,000. ORG Partners LLC increased its position in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at about $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter worth about $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 28,755 shares of company stock worth $3,412,230 in the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MRVL. Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Melius initiated coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective on the stock. UBS Group upped their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum lifted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Raymond James set a $110.00 price objective on Marvell Technology in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $70.40 on Tuesday. 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 $60.97 billion, a PE ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a fifty day moving average of $102.82 and a two-hundred day moving average of $93.95.

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.