Poinciana Advisors Group LLC Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Poinciana Advisors Group LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,957 shares of the semiconductor company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter valued at approximately $26,000. ORG Partners LLC raised its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the 4th quarter valued at $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the 4th quarter valued at $33,000. Finally, Financial Life Planners bought a new stake in shares of Marvell Technology in the 4th quarter worth $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL stock opened at $68.74 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market cap of $59.48 billion, a P/E ratio of -40.44, a P/E/G ratio of 1.61 and a beta of 1.42. The firm has a 50 day simple moving average of $104.78 and a 200 day simple moving average of $93.60. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction 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 purchase, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Barclays dropped their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Finally, B. Riley boosted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.44.

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.