Citizens Financial Group Inc. RI Has $1.52 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Citizens Financial Group Inc. RI boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 75.1% in the fourth quarter, HoldingsChannel reports. The firm owned 13,733 shares of the semiconductor company’s stock after buying an additional 5,891 shares during the period. Citizens Financial Group Inc. RI’s holdings in Marvell Technology were worth $1,517,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. State Street Corp grew its holdings in Marvell Technology by 0.3% in 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 during the period. Geode Capital Management LLC grew its holdings 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 worth $818,916,000 after purchasing an additional 219,692 shares during the period. Wellington Management Group LLP grew its holdings in shares of 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 valued at $627,034,000 after buying an additional 359,005 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Marvell Technology by 5.1% during the fourth 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 during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MRVL has been the subject of a number of analyst reports. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Craig Hallum lifted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Melius initiated coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.44.

Insider Activity

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 stock was bought 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 in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last quarter. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $69.85 on Thursday. The company’s 50 day moving average is $106.49 and its 200-day moving average is $93.94. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month 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. The firm has a market cap of $60.44 billion, a P/E ratio of -41.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

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.