Lbp Am Sa Has $30.86 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Lbp Am Sa cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 27.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,409 shares of the semiconductor company’s stock after selling 105,443 shares during the quarter. Lbp Am Sa’s holdings in Marvell Technology were worth $30,861,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. Lodestone Wealth Management LLC increased its holdings in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the period. Valley National Advisers Inc. boosted its stake in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 97 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in shares of Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 103 shares in the last quarter. Finally, Tsfg LLC boosted its stake in shares of Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $68.76 on Friday. The company has a market capitalization of $59.50 billion, a price-to-earnings ratio of -40.45, a P/E/G ratio of 1.61 and a beta of 1.42. The firm’s 50 day simple moving average is $105.68 and its 200 day simple moving average is $93.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MRVL shares. Melius started coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. Susquehanna boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Thursday, March 6th. Finally, Oppenheimer upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is available through the SEC website. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last ninety days. Company insiders own 0.33% of the company’s stock.

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.