Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,588 shares of the semiconductor company’s stock after buying an additional 799 shares during the period. Parallel Advisors LLC’s holdings in Marvell Technology were worth $1,170,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in 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 shares of 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 purchasing an additional 149 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Up 2.2 %

Shares of Marvell Technology stock opened at $69.81 on Thursday. The firm has a market capitalization of $60.46 billion, a PE ratio of -41.06, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm’s 50-day moving average price is $100.89 and its 200 day moving average price is $93.72. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MRVL shares. KeyCorp cut their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. 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 report on Thursday, March 6th. Finally, Evercore ISI upped their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research 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 company. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target 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.