Addison Capital Co Has $470,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Addison Capital Co increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 9.0% during the 4th quarter, Holdings Channel reports. The fund owned 4,258 shares of the semiconductor company’s stock after buying an additional 353 shares during the quarter. Addison Capital Co’s holdings in Marvell Technology were worth $470,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Swedbank AB grew its holdings in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the period. KBC Group NV grew its stake in Marvell Technology by 7.2% in the third quarter. KBC Group NV now owns 121,865 shares of the semiconductor company’s stock valued at $8,788,000 after acquiring an additional 8,155 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of Marvell Technology by 89.5% in the third quarter. OneDigital Investment Advisors LLC now owns 44,578 shares of the semiconductor company’s stock worth $3,215,000 after acquiring an additional 21,048 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Marvell Technology by 6.7% during the third quarter. CIBC Asset Management Inc now owns 190,403 shares of the semiconductor company’s stock worth $13,732,000 after purchasing an additional 11,912 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in shares of Marvell Technology by 55.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,068,155 shares of the semiconductor company’s stock valued at $77,035,000 after purchasing an additional 380,876 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL opened at $68.74 on Monday. 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, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The business has a 50 day moving average of $103.79 and a 200-day moving average of $93.94. The stock has a market cap of $59.48 billion, a price-to-earnings ratio of -40.44, a PEG ratio of 1.61 and a beta of 1.42.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRVL. Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Craig Hallum raised their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,755 shares of company stock worth $3,412,230. Company insiders own 0.33% of the company’s stock.

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.