Swiss National Bank Sells 122,400 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Swiss National Bank lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,447,003 shares of the semiconductor company’s stock after selling 122,400 shares during the period. Swiss National Bank owned about 0.28% of Marvell Technology worth $270,271,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Lodestone Wealth Management LLC lifted its stake 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 valued at $514,000 after acquiring an additional 93 shares during the last quarter. Valley National Advisers Inc. grew its position in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares during the last quarter. Private Trust Co. NA increased its holdings in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 97 shares in the last quarter. Waldron Private Wealth LLC raised its position in Marvell Technology by 3.6% in the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 103 shares during the last quarter. Finally, Tsfg LLC boosted its stake in shares of Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 4.0 %

Shares of Marvell Technology stock opened at $69.85 on Thursday. The stock has a market capitalization of $60.44 billion, a PE ratio of -41.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a 50 day moving average price of $106.49 and a two-hundred day moving average price of $93.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now owns 87,113 shares of the company’s stock, valued at $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 have sold a total of 36,255 shares of company stock worth $4,330,980 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MRVL shares. Craig Hallum upped their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Morgan Stanley dropped their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Benchmark restated a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, UBS Group raised their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.