Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Continuum Advisory LLC

Continuum Advisory LLC lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,325 shares of the semiconductor company’s stock after selling 141 shares during the period. Continuum Advisory LLC’s holdings in Marvell Technology were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MRVL. True Wealth Design LLC raised its position in 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 during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the second quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Marvell Technology during the second quarter worth about $32,000. Whittier Trust Co. grew its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. Finally, Briaud Financial Planning Inc purchased a new position in shares of Marvell Technology during the third quarter worth about $43,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $125.00 price objective (up from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Citigroup lifted their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped 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. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price target on shares of Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $119.04.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew J. Murphy sold 6,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $73.29, for a total value of $439,740.00. Following the completion of the transaction, the chief executive officer now directly owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 175,000 shares of company stock worth $14,076,540. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Trading Up 4.4 %

NASDAQ:MRVL opened at $111.36 on Thursday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $119.88. 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 stock has a fifty day simple moving average of $88.30 and a 200-day simple moving average of $76.29. The company has a market capitalization of $96.36 billion, a PE ratio of -65.51, a price-to-earnings-growth ratio of 3.79 and a beta of 1.46.

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.