Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 350,761 shares of the semiconductor company’s stock after selling 10,320 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Marvell Technology were worth $38,742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MRVL. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the period. ORG Partners LLC increased its stake in 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 acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $27,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Up 2.4 %

Shares of NASDAQ MRVL opened at $70.40 on Tuesday. The business has a 50-day moving average of $102.82 and a two-hundred day moving average of $93.95. The company has a market capitalization of $60.97 billion, a price-to-earnings ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Insider Buying and Selling

In related news, Director Brad W. Buss purchased 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,755 shares of company stock worth $3,412,230 over the last 90 days. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Raymond James set a $110.00 target price on Marvell Technology in a research report on Thursday, March 6th. Finally, Piper Sandler lowered their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock 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.