Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Holderness Investments Co.

Holderness Investments Co. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,465 shares of the semiconductor company’s stock after acquiring an additional 150 shares during the period. Holderness Investments Co.’s holdings in Marvell Technology were worth $493,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MRVL. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $26,000. ORG Partners LLC raised 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 period. Rialto Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter worth about $27,000. Kieckhefer Group LLC acquired a new position in Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $70.49 on Friday. The company has a 50-day moving average of $99.94 and a 200-day moving average of $93.56. The firm has a market cap of $61.05 billion, a price-to-earnings ratio of -41.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 over the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of analyst reports. Barclays reduced their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Citigroup lowered their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Melius assumed coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Piper Sandler reduced their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Susquehanna raised their price target 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. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.