GM Advisory Group LLC Reduces Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

GM Advisory Group LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,311 shares of the semiconductor company’s stock after selling 4,314 shares during the period. GM Advisory Group LLC’s holdings in Marvell Technology were worth $2,464,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Marvell Technology during the 4th quarter worth $366,896,000. Temasek Holdings Private Ltd boosted its stake 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 worth $161,555,000 after purchasing an additional 1,911,532 shares during the period. Holocene Advisors LP acquired a new stake in Marvell Technology during the 3rd quarter worth $120,116,000. Perpetual Ltd boosted its stake in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares during the period. Finally, Nordea Investment Management AB boosted its stake in 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 worth $518,435,000 after purchasing an additional 571,005 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Oppenheimer increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Craig Hallum raised their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Barclays reduced their target price on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Three equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $68.28 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $101.86 and a two-hundred day moving average price of $93.89. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a market capitalization of $59.13 billion, a P/E ratio of -40.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

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.