Midwest Professional Planners LTD. Buys New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Midwest Professional Planners LTD. bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,599 shares of the semiconductor company’s stock, valued at approximately $729,000.

Several other large investors also recently added to or reduced their stakes in the business. Impact Capital Partners LLC bought a new stake in Marvell Technology during the fourth quarter valued at approximately $368,000. Balboa Wealth Partners lifted its holdings in Marvell Technology by 39.5% during the fourth quarter. Balboa Wealth Partners now owns 8,180 shares of the semiconductor company’s stock valued at $903,000 after purchasing an additional 2,318 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in Marvell Technology by 3.1% during the fourth quarter. HBK Sorce Advisory LLC now owns 6,688 shares of the semiconductor company’s stock valued at $739,000 after purchasing an additional 199 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Marvell Technology by 8.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 200,483 shares of the semiconductor company’s stock valued at $22,369,000 after purchasing an additional 15,888 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new position in Marvell Technology during the fourth quarter valued at approximately $2,649,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Trading Down 1.6 %

MRVL stock opened at $68.76 on Friday. 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 twelve month low of $53.19 and a twelve month high of $127.48. The stock has a market capitalization of $59.50 billion, a price-to-earnings ratio of -40.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm’s fifty day simple moving average is $105.68 and its two-hundred day simple moving average is $93.77.

Analysts Set New Price Targets

Several equities analysts have weighed in on MRVL shares. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. TD Cowen lowered their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Melius initiated coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Oppenheimer boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last quarter. Insiders own 0.33% of the company’s stock.

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.