Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 43.6% in the 4th quarter, Holdings Channel reports. The fund owned 362,647 shares of the semiconductor company’s stock after selling 280,402 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Marvell Technology were worth $40,054,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MRVL. True Wealth Design LLC raised its holdings in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC grew its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on MRVL shares. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Cantor Fitzgerald boosted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp dropped their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Up 4.0 %

Marvell Technology stock opened at $69.85 on Thursday. The stock has a market capitalization of $60.44 billion, a PE ratio of -41.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $106.49 and a 200-day moving average of $93.94.

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.