Parallel Advisors LLC Purchases 799 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Parallel Advisors LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,588 shares of the semiconductor company’s stock after purchasing an additional 799 shares during the quarter. Parallel Advisors LLC’s holdings in Marvell Technology were worth $1,170,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MRVL. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% in the fourth 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 bought a new stake in shares of Marvell Technology in the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth about $33,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Up 2.2 %

Shares of NASDAQ MRVL opened at $69.81 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $60.46 billion, a price-to-earnings ratio of -41.06, a PEG ratio of 1.61 and a beta of 1.42. The stock has a 50 day moving average price of $100.89 and a 200 day moving average price of $93.72. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC reduced their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Roth Capital set a $100.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Three 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. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 over the last 90 days. Company 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.