SSI Investment Management LLC Invests $259,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

SSI Investment Management LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,347 shares of the semiconductor company’s stock, valued at approximately $259,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings 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 worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC lifted its holdings in shares of Marvell Technology by 175.3% during the 4th 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. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.4 %

Shares of NASDAQ MRVL opened at $70.40 on Tuesday. The firm has a market cap of $60.97 billion, a PE ratio of -41.41, a P/E/G 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. The company’s fifty day simple moving average is $102.82 and its 200 day simple moving average is $93.95. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,755 shares of company stock valued at $3,412,230. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, March 6th. B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target 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.