West Tower Group LLC Lowers Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

West Tower Group LLC lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,000 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. West Tower Group LLC’s holdings in Marvell Technology were worth $442,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Intrepid Financial Planning Group LLC raised its stake in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc grew its holdings in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares during the period. Lodestone Wealth Management LLC grew its holdings in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the period. Valley National Advisers Inc. grew its holdings in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA grew its holdings in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Bank of America decreased their price target on Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Oppenheimer upped 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. Finally, KeyCorp decreased their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $68.28 on Wednesday. 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 firm has a market cap of $59.13 billion, a price-to-earnings ratio of -40.16, a P/E/G ratio of 1.61 and a beta of 1.42. The business’s 50-day simple moving average is $101.86 and its 200-day simple moving average is $93.89. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Insider Activity

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

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.