Generali Asset Management SPA SGR Purchases New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Generali Asset Management SPA SGR bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 59,302 shares of the semiconductor company’s stock, valued at approximately $6,550,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Intrepid Financial Planning Group LLC raised its holdings in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc raised its holdings in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC raised its holdings in shares of Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 97 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 3.0 %

Shares of NASDAQ MRVL opened at $68.28 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $59.13 billion, a PE ratio of -40.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm’s 50-day moving average is $101.86 and its two-hundred day moving average is $93.89. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. B. Riley boosted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Needham & Company LLC dropped their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.44.

Insider Activity at Marvell Technology

In other news, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,685 shares of company stock valued at $4,026,768. Company insiders own 0.33% of the company’s stock.

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.