Glenview Trust co Sells 731 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Glenview Trust co lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 599,985 shares of the semiconductor company’s stock after selling 731 shares during the period. Marvell Technology accounts for 1.2% of Glenview Trust co’s holdings, making the stock its 20th biggest holding. Glenview Trust co owned about 0.07% of Marvell Technology worth $66,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the 4th quarter worth $26,000. ORG Partners LLC raised 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 valued at $26,000 after buying an additional 149 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology during the fourth quarter worth about $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Down 0.0 %

Shares of MRVL opened at $68.74 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $59.48 billion, a P/E ratio of -40.44, a P/E/G 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’s fifty day simple moving average is $103.79 and its 200-day simple moving average is $93.77.

Insiders Place Their Bets

In other news, Director Brad W. Buss bought 3,000 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The acquisition 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 the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America cut their target price on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. KeyCorp decreased their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Morgan Stanley dropped their target price on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Three investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.44.

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.