Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Raised by Evoke Wealth LLC

Evoke Wealth LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 47.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,999 shares of the semiconductor company’s stock after acquiring an additional 1,600 shares during the period. Evoke Wealth LLC’s holdings in Marvell Technology were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MRVL. Swedbank AB raised its stake in shares of Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares in the last quarter. Belmont Capital LLC bought a new stake in shares of Marvell Technology during the third quarter valued at about $1,082,000. Whalen Wealth Management Inc. raised its stake in shares of Marvell Technology by 21.6% during the third quarter. Whalen Wealth Management Inc. now owns 11,826 shares of the semiconductor company’s stock valued at $853,000 after purchasing an additional 2,097 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Marvell Technology by 36.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,314 shares of the semiconductor company’s stock valued at $527,000 after purchasing an additional 1,954 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of Marvell Technology by 2.9% during the third quarter. Banque Cantonale Vaudoise now owns 42,186 shares of the semiconductor company’s stock valued at $3,043,000 after purchasing an additional 1,184 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. KeyCorp lowered their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Citigroup lowered their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Melius assumed coverage on Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Trading Down 3.0 %

NASDAQ:MRVL opened at $68.28 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock’s 50-day moving average is $101.86 and its two-hundred day moving average is $93.89. The stock has a market cap of $59.13 billion, a PE ratio of -40.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Insider Buying and Selling at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock valued at $4,026,768 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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.