Xponance Inc. Purchases 17,419 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Xponance Inc. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,811 shares of the semiconductor company’s stock after acquiring an additional 17,419 shares during the quarter. Xponance Inc.’s holdings in Marvell Technology were worth $11,024,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter valued at about $26,000. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Rialto Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter valued at about $27,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the fourth quarter valued at about $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology in the fourth quarter valued at about $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % 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, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the transaction, the chief financial officer now owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $68.28 on Wednesday. The stock has a market cap of $59.13 billion, a price-to-earnings ratio of -40.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. 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 stock has a 50 day moving average price of $101.86 and a 200-day moving average price of $93.89. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Analyst Ratings Changes

Several research firms have recently commented on MRVL. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Piper Sandler decreased their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. KeyCorp decreased their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

About Marvell Technology

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.