Pine Valley Investments Ltd Liability Co Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Pine Valley Investments Ltd Liability Co raised its position in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,799 shares of the semiconductor company’s stock after buying an additional 1,773 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Marvell Technology were worth $1,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Davidson Kempner Capital Management LP grew its stake in Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology during the 3rd quarter valued at approximately $16,435,000. Charles Schwab Investment Management Inc. grew its position in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares during the last quarter. Finally, Silicon Valley Capital Partners raised its holdings in Marvell Technology by 254.6% in the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after acquiring an additional 23,678 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In related news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the transaction, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $14,076,540 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRVL. Oppenheimer boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. KeyCorp boosted their price objective on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price objective on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $119.04.

Check Out Our Latest Analysis on Marvell Technology

Marvell Technology Stock Performance

Marvell Technology stock opened at $109.01 on Friday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $119.88. The company’s 50-day moving average price is $89.04 and its two-hundred day moving average price is $76.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

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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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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