Mindset Wealth Management LLC Makes New $230,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Mindset Wealth Management LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,078 shares of the semiconductor company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zweig DiMenna Associates LLC lifted its holdings in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at about $637,000. RFG Advisory LLC lifted its holdings in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after buying an additional 2,507 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after acquiring an additional 66,654 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after acquiring an additional 535,203 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $70.49 on Friday. The stock has a market cap of $61.05 billion, a price-to-earnings ratio of -41.46, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm’s 50-day moving average is $99.94 and its 200 day moving average is $93.56.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at approximately $5,639,310.73. The trade was a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on MRVL shares. UBS Group upped their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays decreased their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Evercore ISI lifted their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, KeyCorp dropped their target price on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Company 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.