Balboa Wealth Partners Purchases 2,318 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Balboa Wealth Partners increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 39.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,180 shares of the semiconductor company’s stock after acquiring an additional 2,318 shares during the period. Balboa Wealth Partners’ holdings in Marvell Technology were worth $903,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC increased its stake in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after acquiring an additional 219,692 shares during the last quarter. Wellington Management Group LLP lifted its stake in Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after purchasing an additional 571,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Marvell Technology by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock valued at $378,594,000 after buying an additional 165,858 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares of the company’s stock, valued at $6,010,797. The trade was a 3.57 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on MRVL. Morgan Stanley decreased their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Craig Hallum upped their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, William Blair upgraded Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Trading Up 4.0 %

MRVL opened at $69.85 on Thursday. The stock has a market cap of $60.44 billion, a PE ratio of -41.09, a PEG ratio of 1.61 and a beta of 1.42. The business has a 50 day moving average of $106.49 and a 200-day moving average of $93.94. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

About Marvell Technology

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.