Primecap Management Co. CA Has $231.77 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Primecap Management Co. CA boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 10.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,098,430 shares of the semiconductor company’s stock after purchasing an additional 198,830 shares during the period. Primecap Management Co. CA owned about 0.24% of Marvell Technology worth $231,772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MRVL. Intrepid Financial Planning Group LLC lifted its holdings in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after purchasing an additional 90 shares during the last quarter. Lodestone Wealth Management LLC lifted its holdings in Marvell Technology by 2.0% during 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 during the last quarter. Valley National Advisers Inc. lifted its holdings in Marvell Technology by 0.4% during 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 during the last quarter. Private Trust Co. NA lifted its holdings in Marvell Technology by 2.7% during 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 during the last quarter. Finally, Waldron Private Wealth LLC lifted its holdings in 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 purchasing an additional 103 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MRVL has been the subject of several analyst reports. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. KeyCorp lowered 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 report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lowered their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, B. Riley lifted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.44.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now 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 have sold a total of 28,755 shares of company stock valued at $3,412,230 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $70.40 on Tuesday. The company’s fifty day simple moving average is $102.82 and its 200-day simple moving average is $93.95. 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 firm has a market cap of $60.97 billion, a PE ratio of -41.41, 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.

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.