Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

by · The Markets Daily

Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 24,230,000 shares, a growth of 24.0% from the February 13th total of 19,540,000 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 17,370,000 shares, the short-interest ratio is currently 1.4 days.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss purchased 3,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,755 shares of company stock worth $3,412,230. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Marvell Technology

Several hedge funds have recently modified their holdings of the company. Keystone Financial Services LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $224,000. Castle Rock Wealth Management LLC boosted its stake in shares of Marvell Technology by 165.8% during the 4th quarter. Castle Rock Wealth Management LLC now owns 16,283 shares of the semiconductor company’s stock worth $1,734,000 after acquiring an additional 10,157 shares in the last quarter. Total Wealth Planning & Management Inc. purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $824,000. Menard Financial Group LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $669,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $105,450,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MRVL has been the subject of a number of analyst reports. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Raymond James set a $110.00 price target on Marvell Technology in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

View Our Latest Stock Analysis on MRVL

Marvell Technology Price Performance

Shares of MRVL stock traded up $1.66 during mid-day trading on Monday, hitting $70.40. 13,406,724 shares of the stock were exchanged, compared to its average volume of 12,621,448. The firm has a fifty day moving average of $102.82 and a 200 day moving average of $93.95. 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 has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a market cap of $60.92 billion, a PE ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Company Profile

(Get Free Report)

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.

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