Wealth Architects LLC Sells 2,446 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Wealth Architects LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,182 shares of the semiconductor company’s stock after selling 2,446 shares during the quarter. Wealth Architects LLC’s holdings in Marvell Technology were worth $462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. TCTC Holdings LLC increased its position in Marvell Technology by 448.6% during the 4th quarter. TCTC Holdings LLC now owns 1,152 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 942 shares during the period. Signaturefd LLC lifted its holdings in shares of Marvell Technology by 6.1% in the 4th quarter. Signaturefd LLC now owns 12,432 shares of the semiconductor company’s stock worth $1,373,000 after purchasing an additional 714 shares in the last quarter. Parallel Advisors LLC raised its position in Marvell Technology by 8.2% in the 4th quarter. Parallel Advisors LLC now owns 10,588 shares of the semiconductor company’s stock valued at $1,170,000 after buying an additional 799 shares during the last quarter. SouthState Corp raised its position in Marvell Technology by 91.6% in the 4th quarter. SouthState Corp now owns 479 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 229 shares during the last quarter. Finally, Addison Capital Co increased its position in shares of Marvell Technology by 9.0% during the 4th quarter. Addison Capital Co now owns 4,258 shares of the semiconductor company’s stock valued at $470,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,755 shares of company stock valued at $3,412,230. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Down 0.0 %

NASDAQ MRVL opened at $68.74 on Monday. The stock’s 50-day moving average price is $103.79 and its 200-day moving average price is $93.94. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a market capitalization of $59.48 billion, a P/E ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MRVL shares. TD Cowen decreased their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a report on Thursday, March 6th. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Finally, The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.