Corient Private Wealth LLC Sells 227,038 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Corient Private Wealth LLC cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,372,540 shares of the semiconductor company’s stock after selling 227,038 shares during the quarter. Corient Private Wealth LLC owned approximately 0.16% of Marvell Technology worth $151,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MRVL. Intrepid Financial Planning Group LLC lifted 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 worth $2,860,000 after buying an additional 90 shares in the last quarter. Avalon Trust Co purchased a new stake in Marvell Technology in the fourth quarter worth $56,000. Frank Rimerman Advisors LLC lifted its stake in Marvell Technology by 184.8% in the fourth quarter. Frank Rimerman Advisors LLC now owns 8,395 shares of the semiconductor company’s stock worth $927,000 after acquiring an additional 5,447 shares during the period. Greykasell Wealth Strategies Inc. purchased a new position in Marvell Technology during the fourth quarter valued at $818,000. Finally, Catalyst Funds Management Pty Ltd purchased a new position in Marvell Technology during the fourth quarter valued at $3,755,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, Director Brad W. Buss acquired 3,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost 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 $6,010,797. This represents a 3.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MRVL. UBS Group boosted their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup cut their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Raymond James set a $110.00 price objective on Marvell Technology in a research note on Thursday, March 6th. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Finally, Bank of America dropped their target price on Marvell Technology from $150.00 to $120.00 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 assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $68.74 on Friday. 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. The company has a market capitalization of $59.48 billion, a P/E ratio of -40.44, a P/E/G ratio of 1.61 and a beta of 1.42. The stock’s fifty day moving average is $103.79 and its two-hundred day moving average is $93.77.

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.