Evoke Wealth LLC Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Evoke Wealth LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 47.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,999 shares of the semiconductor company’s stock after acquiring an additional 1,600 shares during the period. Evoke Wealth LLC’s holdings in Marvell Technology were worth $552,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MRVL. Swedbank AB lifted its holdings in shares of Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after acquiring an additional 23,680 shares during the period. Belmont Capital LLC purchased a new position in shares of Marvell Technology during the 3rd quarter worth about $1,082,000. Whalen Wealth Management Inc. lifted its holdings in shares of Marvell Technology by 21.6% during the 3rd quarter. Whalen Wealth Management Inc. now owns 11,826 shares of the semiconductor company’s stock worth $853,000 after acquiring an additional 2,097 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Marvell Technology by 36.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,314 shares of the semiconductor company’s stock worth $527,000 after acquiring an additional 1,954 shares during the period. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Marvell Technology by 2.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 42,186 shares of the semiconductor company’s stock worth $3,043,000 after acquiring an additional 1,184 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MRVL. Needham & Company LLC cut their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. KeyCorp cut their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday, March 6th. Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target on the stock. Finally, Stifel Nicolaus cut their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Three 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’s stock. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Down 3.0 %

MRVL stock opened at $68.28 on Wednesday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. 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 company has a market capitalization of $59.13 billion, a P/E ratio of -40.16, a PEG ratio of 1.61 and a beta of 1.42. The firm has a 50 day simple moving average of $101.86 and a 200-day simple moving average of $93.89.

Marvell Technology Company 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.