Sequoia Financial Advisors LLC Purchases 326 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Sequoia Financial Advisors LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,398 shares of the semiconductor company’s stock after acquiring an additional 326 shares during the period. Sequoia Financial Advisors LLC’s holdings in Marvell Technology were worth $1,701,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Marvell Technology in the fourth quarter worth $366,896,000. Temasek Holdings Private Ltd grew its holdings in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Marvell Technology during the third quarter valued at about $120,116,000. Perpetual Ltd lifted its holdings in shares of Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Marvell Technology by 14.0% in 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 acquiring an additional 571,005 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Down 0.0 %

MRVL stock opened at $68.74 on Friday. The business has a 50 day moving average of $103.79 and a 200 day moving average of $93.77. The firm has a market cap of $59.48 billion, a PE ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve 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.

Analyst Ratings Changes

A number of analysts recently weighed in on MRVL shares. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. KeyCorp dropped their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Piper Sandler decreased their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Three investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

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.