Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,108 shares of the semiconductor company’s stock after selling 166 shares during the period. Moors & Cabot Inc.’s holdings in Marvell Technology were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Briaud Financial Planning Inc boosted its stake in shares of Marvell Technology by 41.3% during the fourth quarter. Briaud Financial Planning Inc now owns 848 shares of the semiconductor company’s stock worth $93,000 after buying an additional 248 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Marvell Technology by 75.1% during the fourth quarter. Citizens Financial Group Inc. RI now owns 13,733 shares of the semiconductor company’s stock worth $1,517,000 after buying an additional 5,891 shares during the period. Independent Advisor Alliance boosted its stake in shares of Marvell Technology by 83.8% during the fourth quarter. Independent Advisor Alliance now owns 29,780 shares of the semiconductor company’s stock worth $3,289,000 after buying an additional 13,582 shares during the period. Marvin & Palmer Associates Inc. acquired a new stake in shares of Marvell Technology during the fourth quarter worth about $2,662,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Marvell Technology by 1.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 135,412 shares of the semiconductor company’s stock worth $14,956,000 after buying an additional 1,895 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the firm’s 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 transaction, 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. Over the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Susquehanna increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Stifel Nicolaus cut their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. KeyCorp cut their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Piper Sandler cut their price target on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Stock Down 0.0 %

Shares of NASDAQ MRVL opened at $68.74 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm’s 50 day moving average price is $104.78 and its 200 day moving average price is $93.60. The firm has a market cap of $59.48 billion, a P/E ratio of -40.44, 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.

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.