Wayfinding Financial LLC Invests $451,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Wayfinding Financial LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,091 shares of the semiconductor company’s stock, valued at approximately $451,000.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Marvell Technology by 1,481.8% during the 3rd 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 position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

Marvell Technology stock opened at $70.49 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm’s fifty day moving average price is $99.94 and its 200-day moving average price is $93.56. The stock has a market cap of $61.05 billion, a P/E ratio of -41.46, a price-to-earnings-growth 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.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brad W. Buss acquired 3,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MRVL. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC lowered their target price 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. KeyCorp cut their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Melius began coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Finally, Barclays cut their target price 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. Three equities research 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 company’s stock. Based on data from MarketBeat.com, Marvell Technology 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.