Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 24,230,000 shares, a growth of 24.0% from the February 13th total of 19,540,000 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 17,370,000 shares, the days-to-cover ratio is currently 1.4 days.

Insider Buying and Selling

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

Hedge Funds Weigh In On Marvell Technology

Several large investors have recently made changes to their positions in MRVL. True Wealth Design LLC lifted its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC lifted its stake 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 valued at $26,000 after acquiring an additional 149 shares during the period. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC bought a new stake in Marvell Technology in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Down 3.0 %

Shares of MRVL traded down $2.12 during trading hours on Tuesday, hitting $68.28. 11,604,922 shares of the stock traded hands, compared to its average volume of 12,674,555. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $59.13 billion, a PE ratio of -40.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The business has a fifty day moving average of $101.86 and a 200-day moving average of $93.89.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald lifted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Morgan Stanley dropped their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Three research 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. According to data from MarketBeat.com, the stock presently has an average 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.