Wayfinding Financial LLC Acquires Shares of 4,091 Marvell Technology, Inc. (NASDAQ:MRVL)

Wayfinding Financial LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,091 shares of the semiconductor company’s stock, valued at approximately $451,000.

Several other hedge funds also recently made changes to their positions in MRVL. Intrepid Financial Planning Group LLC boosted its position in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after purchasing an additional 90 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 92 shares in the last quarter. Lodestone Wealth Management LLC raised its position in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. boosted its stake in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares in the last quarter. Finally, Private Trust Co. NA grew its position in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 over the last three months. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 1.0 %

Shares of NASDAQ:MRVL opened at $70.49 on Friday. The stock has a 50 day moving average of $99.94 and a 200 day moving average of $93.56. The company has a market cap of $61.05 billion, a PE ratio of -41.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-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.

Analysts Set New Price Targets

Several brokerages have issued reports on MRVL. Stifel Nicolaus decreased their target price on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. TD Cowen cut their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Finally, Evercore ISI upped their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Three equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $120.44.

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.