Generali Investments Management Co LLC Takes $626,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Generali Investments Management Co LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, Holdings Channel.com reports. The firm acquired 5,666 shares of the semiconductor company’s stock, valued at approximately $626,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vinva Investment Management Ltd grew its position in shares of Marvell Technology by 10.0% in the 4th quarter. Vinva Investment Management Ltd now owns 43,572 shares of the semiconductor company’s stock valued at $4,865,000 after buying an additional 3,954 shares during the last quarter. Xponance Inc. grew its position in shares of Marvell Technology by 21.1% in the 4th quarter. Xponance Inc. now owns 99,811 shares of the semiconductor company’s stock valued at $11,024,000 after buying an additional 17,419 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Marvell Technology in the 4th quarter valued at $6,550,000. Evoke Wealth LLC grew its position in shares of Marvell Technology by 47.1% in the 4th quarter. Evoke Wealth LLC now owns 4,999 shares of the semiconductor company’s stock valued at $552,000 after buying an additional 1,600 shares during the last quarter. Finally, SSI Investment Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at $259,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Down 3.0 %

Shares of NASDAQ MRVL opened at $68.28 on Wednesday. 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 52 week low of $53.19 and a 52 week high of $127.48. The firm has a 50-day moving average price of $101.86 and a 200 day moving average price of $93.89. The stock has a market capitalization 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.

Analyst Ratings Changes

A number of research analysts recently commented on MRVL shares. JPMorgan Chase & Co. increased their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group raised their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Three 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. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 over the last 90 days. Company 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.