Signaturefd LLC Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Signaturefd LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,432 shares of the semiconductor company’s stock after buying an additional 714 shares during the period. Signaturefd LLC’s holdings in Marvell Technology were worth $1,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MRVL. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at about $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MRVL. Susquehanna upped their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Bank of America dropped their price objective on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC dropped their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Raymond James set a $110.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Insider Activity

In other Marvell Technology news, Director Brad W. Buss bought 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, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 3.0 %

Marvell Technology stock opened at $68.28 on Wednesday. The firm has a 50 day simple moving average of $101.86 and a 200-day simple moving average of $93.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock 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. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

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.