United Capital Management of KS Inc. Sells 626 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

United Capital Management of KS Inc. lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,625 shares of the semiconductor company’s stock after selling 626 shares during the period. United Capital Management of KS Inc.’s holdings in Marvell Technology were worth $3,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after purchasing an additional 359,005 shares in the last quarter. Nordea Investment Management AB boosted 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. Finally, Charles Schwab Investment Management Inc. lifted its position in Marvell Technology by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock valued at $378,594,000 after acquiring an additional 165,858 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 0.0 %

Marvell Technology stock opened at $68.74 on Friday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $59.48 billion, a price-to-earnings ratio of -40.44, a P/E/G 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. The firm has a 50 day simple moving average of $104.78 and a 200 day simple moving average of $93.60.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MRVL shares. JPMorgan Chase & Co. raised their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Bank of America dropped their price target 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. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.