Talos Asset Management LP Makes New $64.35 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Talos Asset Management LP purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 582,588 shares of the semiconductor company’s stock, valued at approximately $64,347,000. Marvell Technology accounts for approximately 15.2% of Talos Asset Management LP’s investment portfolio, making the stock its biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. Raymond James Financial Inc. bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $366,896,000. Temasek Holdings Private Ltd boosted its position in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after acquiring an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Marvell Technology during the 3rd quarter valued at approximately $120,116,000. Perpetual Ltd boosted its position in shares of Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after acquiring an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of MRVL stock opened at $69.81 on Thursday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The stock’s 50-day moving average is $100.89 and its 200 day moving average is $93.72. The company has a market cap of $60.46 billion, a P/E ratio of -41.06, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and issued a $135.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. B. Riley raised their price target on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley lowered their price target on 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. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on Marvell Technology in a research note 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Activity at Marvell Technology

In other Marvell Technology news, 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 value of $282,500.00. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock valued at $4,026,768 over the last quarter. 0.33% of the stock is owned by corporate insiders.

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.