Balboa Wealth Partners Acquires 2,318 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Balboa Wealth Partners increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 39.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,180 shares of the semiconductor company’s stock after buying an additional 2,318 shares during the quarter. Balboa Wealth Partners’ holdings in Marvell Technology were worth $903,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MRVL. Swedbank AB boosted its stake in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Marvell Technology by 7.6% during the 3rd quarter. Impax Asset Management Group plc now owns 574,996 shares of the semiconductor company’s stock worth $41,469,000 after acquiring an additional 40,796 shares during the last quarter. Assetmark Inc. increased its position in Marvell Technology by 16.9% in the 3rd quarter. Assetmark Inc. now owns 39,197 shares of the semiconductor company’s stock valued at $2,827,000 after acquiring an additional 5,657 shares during the period. Atria Investments Inc raised its stake in shares of Marvell Technology by 22.0% during the third quarter. Atria Investments Inc now owns 45,167 shares of the semiconductor company’s stock valued at $3,257,000 after acquiring an additional 8,160 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in shares of Marvell Technology by 41.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 7,992 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 2,348 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of MRVL opened at $69.85 on Thursday. The stock has a 50 day moving average of $106.49 and a 200 day moving average of $93.94. The company has a market capitalization of $60.44 billion, a price-to-earnings ratio of -41.09, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Craig Hallum increased their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup decreased their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Bank of America cut their price objective on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Three 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. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average 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.