Magnetar Financial LLC Increases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Magnetar Financial LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 334.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,149 shares of the semiconductor company’s stock after acquiring an additional 17,049 shares during the period. Magnetar Financial LLC’s holdings in Marvell Technology were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Marvell Technology in the fourth quarter worth about $366,896,000. Temasek Holdings Private Ltd increased its holdings in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares during the period. Holocene Advisors LP acquired a new position in Marvell Technology in the 3rd quarter worth approximately $120,116,000. Perpetual Ltd lifted 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 valued at $77,591,000 after acquiring an additional 682,457 shares during the period. Finally, Talos Asset Management LP purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $64,347,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL opened at $70.49 on Friday. The firm has a market capitalization of $61.05 billion, a PE ratio of -41.46, a PEG ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm’s 50-day moving average price is $99.94 and its 200 day moving average price is $93.56.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MRVL shares. Melius initiated coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Craig Hallum boosted their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Cantor Fitzgerald lifted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Transactions at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’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 sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last ninety days. 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.