Citizens Financial Group Inc. RI Has $1.52 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Citizens Financial Group Inc. RI grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 75.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,733 shares of the semiconductor company’s stock after purchasing an additional 5,891 shares during the period. Citizens Financial Group Inc. RI’s holdings in Marvell Technology were worth $1,517,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MRVL. Raymond James Financial Inc. acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $366,896,000. Temasek Holdings Private Ltd grew its position in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Marvell Technology during the 3rd quarter worth approximately $120,116,000. Perpetual Ltd grew its position in shares of Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of 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 purchasing an additional 571,005 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In other news, Director Brad W. Buss bought 3,000 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several analyst reports. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Melius initiated coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, KeyCorp reduced their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Price Performance

MRVL stock opened at $69.85 on Thursday. The company has a fifty day moving average price of $106.49 and a 200-day moving average price of $93.94. The company has a market capitalization of $60.44 billion, a P/E ratio of -41.09, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

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.