Berkshire Capital Holdings Inc. Increases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Berkshire Capital Holdings Inc. increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 760,900.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,100 shares of the semiconductor company’s stock after buying an additional 76,090 shares during the period. Marvell Technology comprises 3.0% of Berkshire Capital Holdings Inc.’s portfolio, making the stock its 16th largest holding. Berkshire Capital Holdings Inc.’s holdings in Marvell Technology were worth $8,405,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MRVL. Raymond James Financial Inc. acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $366,896,000. Temasek Holdings Private Ltd raised its position in shares of Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Marvell Technology in the third quarter valued at approximately $120,116,000. Perpetual Ltd raised its position in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after buying an additional 682,457 shares during the last quarter. Finally, Talos Asset Management LP acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $64,347,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 2.2 %

NASDAQ MRVL opened at $69.81 on Thursday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $60.46 billion, a price-to-earnings ratio of -41.06, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company’s fifty day moving average price is $100.89 and its two-hundred day moving average price is $93.72.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock worth $4,026,768 in the last ninety days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Barclays dropped their price target 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. The Goldman Sachs Group upped their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.44.

About Marvell Technology

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.