Wealth Architects LLC Sells 2,446 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Wealth Architects LLC cut its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 36.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,182 shares of the semiconductor company’s stock after selling 2,446 shares during the period. Wealth Architects LLC’s holdings in Marvell Technology were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Geode Capital Management LLC grew its stake in Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after buying an additional 219,692 shares during the last quarter. Wellington Management Group LLP grew its stake in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after buying an additional 359,005 shares during the last quarter. Nordea Investment Management AB grew 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 buying an additional 571,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Marvell Technology by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock worth $378,594,000 after buying an additional 165,858 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,755 shares of company stock valued at $3,412,230 over the last quarter. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $68.74 on Monday. The business has a 50 day simple moving average of $103.79 and a two-hundred day simple moving average of $93.94. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a market capitalization of $59.48 billion, a P/E ratio of -40.44, a PEG ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRVL. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Melius began coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Oppenheimer boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.