Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 24,230,000 shares, a growth of 24.0% from the February 13th total of 19,540,000 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average trading volume of 17,370,000 shares, the short-interest ratio is presently 1.4 days.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares in the company, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Marvell Technology

Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC lifted its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC lifted its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the fourth quarter valued at $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth about $33,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL opened at $68.67 on Wednesday. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a fifty day moving average of $101.86 and a 200 day moving average of $93.89. The stock has a market capitalization of $59.47 billion, a price-to-earnings ratio of -40.33, a PEG ratio of 1.61 and a beta of 1.42.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MRVL shares. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus lowered their price objective on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Thursday, March 6th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

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.