OVERSEA CHINESE BANKING Corp Ltd Sells 18,697 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

OVERSEA CHINESE BANKING Corp Ltd lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 64.3% in the 4th quarter, Holdings Channel reports. The firm owned 10,381 shares of the semiconductor company’s stock after selling 18,697 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Marvell Technology were worth $1,179,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC raised its stake in shares of Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc raised its stake 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 stake in shares of Marvell Technology by 2.0% during the fourth 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 in the last quarter. Valley National Advisers Inc. raised its stake in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after acquiring an additional 96 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. B. Riley boosted their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Cantor Fitzgerald boosted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Three investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $69.81 on Thursday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. 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 firm has a market cap of $60.46 billion, a price-to-earnings ratio of -41.06, a PEG ratio of 1.61 and a beta of 1.42. The firm’s fifty day moving average is $100.89 and its two-hundred day moving average is $93.72.

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.