Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 184.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,395 shares of the semiconductor company’s stock after buying an additional 5,447 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Marvell Technology were worth $927,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MRVL. Raymond James Financial Inc. acquired a new stake in shares of Marvell Technology during the 4th quarter valued at approximately $366,896,000. Temasek Holdings Private Ltd lifted its position in shares of 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 worth $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Marvell Technology in the 3rd quarter valued at about $120,116,000. Perpetual Ltd grew its position in shares of Marvell Technology by 3,405.3% during 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 raised its stake in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the 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 transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 in the last three months. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 0.0 %

NASDAQ MRVL opened at $68.74 on Friday. The company has a market capitalization of $59.48 billion, a PE ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $103.79 and its 200-day simple moving average is $93.77.

Analysts Set New Price Targets

MRVL has been the subject of several recent research reports. Stifel Nicolaus lowered their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald increased their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. B. Riley upped their price target 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. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

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.