Vinva Investment Management Ltd Purchases 3,954 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Vinva Investment Management Ltd grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,572 shares of the semiconductor company’s stock after purchasing an additional 3,954 shares during the quarter. Vinva Investment Management Ltd’s holdings in Marvell Technology were worth $4,865,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth $26,000. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter worth $27,000. Kieckhefer Group LLC bought a new position in Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $69.81 on Thursday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a 50-day simple moving average of $100.89 and a 200 day simple moving average of $93.72. 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 company has a market capitalization of $60.46 billion, a PE ratio of -41.06, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on MRVL shares. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lowered their price objective on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Evercore ISI upped their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Susquehanna upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Finally, Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

About Marvell Technology

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.