Cibc World Markets Corp Has $6.45 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Cibc World Markets Corp lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 36.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,390 shares of the semiconductor company’s stock after selling 32,979 shares during the quarter. Cibc World Markets Corp’s holdings in Marvell Technology were worth $6,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MRVL. SouthState Corp raised its position in shares of Marvell Technology by 91.6% in the 4th quarter. SouthState Corp now owns 479 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 229 shares in the last quarter. Addison Capital Co increased its stake in Marvell Technology by 9.0% in the fourth quarter. Addison Capital Co now owns 4,258 shares of the semiconductor company’s stock valued at $470,000 after acquiring an additional 353 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in Marvell Technology by 46.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,233 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 1,025 shares in the last quarter. SlateStone Wealth LLC lifted its stake in Marvell Technology by 10.9% during the fourth quarter. SlateStone Wealth LLC now owns 4,901 shares of the semiconductor company’s stock worth $541,000 after purchasing an additional 481 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of Marvell Technology by 42.1% in the 4th quarter. Harbour Investments Inc. now owns 2,068 shares of the semiconductor company’s stock valued at $228,000 after purchasing an additional 613 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $68.28 on Wednesday. The firm has a market capitalization of $59.13 billion, a P/E ratio of -40.16, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a fifty day moving average of $101.86 and a 200-day moving average of $93.89. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. The trade was a 1.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on 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. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock valued at $4,026,768. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent analyst reports. Barclays dropped their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday, March 6th. TD Cowen lowered their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Bank of America lowered their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.