Tidal Investments LLC Sells 1,874 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Tidal Investments LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,553 shares of the semiconductor company’s stock after selling 1,874 shares during the quarter. Tidal Investments LLC’s holdings in Marvell Technology were worth $7,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Davidson Kempner Capital Management LP raised its position in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares during the period. Braun Stacey Associates Inc. bought a new stake in Marvell Technology during the 3rd quarter worth approximately $16,435,000. Charles Schwab Investment Management Inc. raised its holdings in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Silicon Valley Capital Partners boosted its holdings in shares of Marvell Technology by 254.6% in the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after buying an additional 23,678 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MRVL. Morgan Stanley upped their target price on shares of Marvell Technology from $82.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Needham & Company LLC increased their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Roth Mkm reiterated a “buy” rating and set a $95.00 target price on shares of Marvell Technology in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $119.04.

Insiders Place Their Bets

In other Marvell Technology news, CEO Matthew J. Murphy bought 13,000 shares of Marvell Technology stock in a transaction on Monday, October 14th. The shares were purchased at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the acquisition, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at $17,227,261.45. The trade was a 6.22 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $14,076,540 over the last three months. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 2.1 %

Shares of NASDAQ:MRVL opened at $109.01 on Friday. 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 firm has a 50 day moving average of $89.04 and a 200-day moving average of $76.51. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $119.88.

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.