Avantax Advisory Services Inc. Has $8.99 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Avantax Advisory Services Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 20.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,424 shares of the semiconductor company’s stock after buying an additional 13,874 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Marvell Technology were worth $8,993,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Zweig DiMenna Associates LLC boosted its stake in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new position in Marvell Technology during the fourth quarter worth $637,000. RFG Advisory LLC boosted its stake in Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in Marvell Technology during the third quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several research analyst reports. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. B. Riley raised their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald raised their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology 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 transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

MRVL opened at $68.76 on Friday. The company has a market capitalization of $59.50 billion, a price-to-earnings ratio of -40.45, a PEG ratio of 1.61 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $105.68 and a 200-day moving average price of $93.77. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

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.