Catalyst Funds Management Pty Ltd Invests $3.76 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Catalyst Funds Management Pty Ltd acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,000 shares of the semiconductor company’s stock, valued at approximately $3,755,000. Marvell Technology comprises 0.9% of Catalyst Funds Management Pty Ltd’s portfolio, making the stock its 23rd largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC boosted its position in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after acquiring an additional 93 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares during the period. Private Trust Co. NA lifted its stake in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 97 shares during the period. Waldron Private Wealth LLC boosted its holdings in shares of Marvell Technology by 3.6% during the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 103 shares during the last quarter. Finally, Tsfg LLC grew its position in shares of Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on MRVL. JPMorgan Chase & Co. lifted their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Needham & Company LLC cut 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. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Piper Sandler dropped their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $68.74 on Friday. 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 stock has a 50 day moving average of $104.78 and a 200-day moving average of $93.60. The stock has a market cap of $59.48 billion, a P/E ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology 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.