Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 143.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,932 shares of the semiconductor company’s stock after purchasing an additional 8,213 shares during the period. Great Lakes Advisors LLC’s holdings in Marvell Technology were worth $1,539,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Lodestone Wealth Management LLC raised its position in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares in the last quarter. Private Trust Co. NA raised its position in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after acquiring an additional 103 shares in the last quarter. Finally, Tsfg LLC raised its position in shares of Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 111 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. This represents a 3.57 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MRVL shares. Rosenblatt Securities reissued a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Craig Hallum upped their price target on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Evercore ISI upped their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. upped their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Down 0.0 %

Shares of MRVL stock opened at $68.74 on Friday. The stock has a 50-day simple moving average of $103.79 and a 200 day simple moving average of $93.77. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock has a market capitalization 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. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

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.