Wayfinding Financial LLC Invests $451,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

by · The Markets Daily

Wayfinding Financial LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,091 shares of the semiconductor company’s stock, valued at approximately $451,000.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

Marvell Technology stock opened at $70.49 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm’s fifty day moving average price is $99.94 and its 200-day moving average price is $93.56. The stock has a market cap of $61.05 billion, a P/E ratio of -41.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brad W. Buss acquired 3,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MRVL. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC lowered their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. KeyCorp cut their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Melius began coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Finally, Barclays cut their target price 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. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Read Our Latest Report on MRVL

Marvell Technology Profile

(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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