Poinciana Advisors Group LLC Invests $216,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Poinciana Advisors Group LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,957 shares of the semiconductor company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also modified their holdings of MRVL. Swedbank AB lifted its stake in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after buying an additional 23,680 shares during the last quarter. Impax Asset Management Group plc increased its position in Marvell Technology by 7.6% during the third 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 period. MQS Management LLC bought a new position in Marvell Technology during the third quarter worth $261,000. Plato Investment Management Ltd increased its position in Marvell Technology by 2.5% during the third quarter. Plato Investment Management Ltd now owns 16,479 shares of the semiconductor company’s stock worth $1,187,000 after acquiring an additional 403 shares during the period. Finally, KBC Group NV increased its position in Marvell Technology by 7.2% during the third quarter. KBC Group NV now owns 121,865 shares of the semiconductor company’s stock worth $8,788,000 after acquiring an additional 8,155 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Down 0.0 %

Shares of NASDAQ MRVL opened at $68.74 on Friday. The firm’s 50-day simple moving average is $104.78 and its 200 day simple moving average is $93.60. The company has a market cap of $59.48 billion, a price-to-earnings ratio of -40.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were 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 in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MRVL shares. Piper Sandler dropped their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Citigroup lowered their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Cantor Fitzgerald boosted their price target 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, UBS Group boosted their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

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.