Signaturefd LLC Has $1.37 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Signaturefd LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 12,432 shares of the semiconductor company’s stock after acquiring an additional 714 shares during the period. Signaturefd LLC’s holdings in Marvell Technology were worth $1,373,000 at the end of the most recent quarter.

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

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $68.28 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $59.13 billion, a PE ratio of -40.16, a PEG ratio of 1.61 and a beta of 1.42. The firm’s fifty day simple moving average is $101.86 and its 200 day simple moving average is $93.89. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’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 sale, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This represents 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. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Piper Sandler cut their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Needham & Company LLC cut their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research 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 company. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

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.