Oddo BHF Asset Management Sas Takes $10.94 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Oddo BHF Asset Management Sas bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 151,749 shares of the semiconductor company’s stock, valued at approximately $10,944,000.

Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd boosted its holdings 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 acquiring an additional 1,911,532 shares in the last quarter. Holocene Advisors LP purchased a new position in Marvell Technology during the 3rd quarter valued at $120,116,000. Van ECK Associates Corp raised its holdings in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares in the last quarter. Finally, D1 Capital Partners L.P. purchased a new stake in shares of Marvell Technology in the 2nd quarter worth about $108,204,000. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,000 shares of company stock worth $14,076,540. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $118.03 on Friday. 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 1 year low of $53.19 and a 1 year high of $119.88. The company has a 50 day simple moving average of $89.04 and a two-hundred day simple moving average of $76.51.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of research reports. Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Stifel Nicolaus restated a “buy” rating and set a $125.00 price objective (up from $114.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Barclays increased their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.04.

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.