Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 334.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 22,149 shares of the semiconductor company’s stock after purchasing an additional 17,049 shares during the period. Magnetar Financial LLC’s holdings in Marvell Technology were worth $2,446,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MRVL. True Wealth Design LLC raised its position in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth about $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction 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. Over the last quarter, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

MRVL has been the topic of several recent research reports. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Thursday, March 6th. Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Finally, Citigroup decreased their price objective on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Stock Up 1.0 %

Marvell Technology stock opened at $70.49 on Friday. The stock has a 50-day simple moving average of $99.94 and a 200-day simple moving average of $93.56. The company has a market capitalization of $61.05 billion, a P/E ratio of -41.46, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

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.