OVERSEA CHINESE BANKING Corp Ltd Sells 18,697 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 64.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,381 shares of the semiconductor company’s stock after selling 18,697 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Marvell Technology were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MRVL. Swedbank AB lifted its holdings in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Marvell Technology by 36.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,314 shares of the semiconductor company’s stock valued at $527,000 after buying an additional 1,954 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Marvell Technology by 2.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,186 shares of the semiconductor company’s stock valued at $3,043,000 after buying an additional 1,184 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Marvell Technology during the 3rd quarter valued at $6,466,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Marvell Technology by 1.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 71,783 shares of the semiconductor company’s stock valued at $5,177,000 after buying an additional 1,062 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 2.2 %

MRVL opened at $69.81 on Thursday. The firm has a market cap of $60.46 billion, a P/E ratio of -41.06, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. 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 stock has a 50-day moving average of $100.89 and a 200 day moving average of $93.72.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent research reports. Raymond James set a $110.00 target price on Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC decreased their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Evercore ISI raised their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Buying and Selling

In related news, 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 value of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % 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, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the transaction, the chief operating officer now owns 81,931 shares of the company’s stock, valued at approximately $5,639,310.73. This represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,685 shares of company stock worth $4,026,768. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Company 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.