SlateStone Wealth LLC Buys 481 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

SlateStone Wealth LLC raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 10.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,901 shares of the semiconductor company’s stock after purchasing an additional 481 shares during the quarter. SlateStone Wealth LLC’s holdings in Marvell Technology were worth $541,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Marvell Technology in the fourth quarter valued at about $366,896,000. Temasek Holdings Private Ltd boosted its position in Marvell Technology by 581.8% in the third 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 in the last quarter. Holocene Advisors LP acquired a new position in Marvell Technology in the third quarter valued at about $120,116,000. Perpetual Ltd boosted its position in Marvell Technology by 3,405.3% in the fourth 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 in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of 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 purchasing an additional 571,005 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MRVL shares. Citigroup reduced their target price on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Evercore ISI upped their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, KeyCorp cut their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Stock Down 0.0 %

Shares of MRVL stock opened at $68.74 on Monday. The firm has a fifty day moving average of $103.79 and a 200-day moving average of $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 12-month low of $53.19 and a 12-month high of $127.48. The company has a market capitalization of $59.48 billion, a price-to-earnings ratio of -40.44, a P/E/G ratio of 1.61 and a beta of 1.42.

Insider Buying and Selling

In other Marvell Technology news, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,755 shares of company stock worth $3,412,230. 0.33% of the stock is owned by insiders.

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.