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

Primecap Management Co. CA raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 10.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,098,430 shares of the semiconductor company’s stock after buying an additional 198,830 shares during the period. Primecap Management Co. CA’s holdings in Marvell Technology were worth $231,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC grew its stake 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 valued at $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MRVL shares. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. TD Cowen decreased their price target on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Barclays decreased their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Craig Hallum upped their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.44.

Insider Buying and Selling at Marvell Technology

In related news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,755 shares of company stock valued at $3,412,230. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $70.40 on Tuesday. The company has a market capitalization of $60.97 billion, a PE ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a 50 day simple moving average of $102.82 and a two-hundred day simple moving average of $93.95. 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.