Greykasell Wealth Strategies Inc. Acquires Shares of 7,404 Marvell Technology, Inc. (NASDAQ:MRVL)

Greykasell Wealth Strategies Inc. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,404 shares of the semiconductor company’s stock, valued at approximately $818,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. Raymond James Financial Inc. purchased a new stake in Marvell Technology in the 4th quarter valued at about $366,896,000. Temasek Holdings Private Ltd increased its stake in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP purchased a new stake in Marvell Technology in the 3rd quarter valued at about $120,116,000. Perpetual Ltd increased its stake in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after buying an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MRVL. 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 note on Thursday, March 6th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Needham & Company LLC decreased their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Bank of America decreased their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Three 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.44.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $68.74 on Friday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. 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 company has a market capitalization 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 company has a fifty day moving average of $104.78 and a 200-day moving average of $93.60.

Marvell Technology 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.