Creative Financial Designs Inc. ADV Boosts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Creative Financial Designs Inc. ADV raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 46.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,233 shares of the semiconductor company’s stock after purchasing an additional 1,025 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Marvell Technology were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MRVL. True Wealth Design LLC increased its holdings in 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 acquiring an additional 326 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased 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 hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MRVL shares. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. TD Cowen lowered their price target on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Marvell Technology 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the sale, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 3.0 %

Shares of MRVL stock opened at $68.28 on Wednesday. The stock has a market cap of $59.13 billion, a price-to-earnings ratio of -40.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm’s 50 day moving average price is $101.86 and its two-hundred day moving average price is $93.89. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

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.