Vestcor Inc Sells 1,418 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Vestcor Inc trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,763 shares of the semiconductor company’s stock after selling 1,418 shares during the period. Vestcor Inc’s holdings in Marvell Technology were worth $1,741,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MRVL. Swedbank AB lifted 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 during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Marvell Technology by 7.6% in the 3rd quarter. Impax Asset Management Group plc now owns 574,996 shares of the semiconductor company’s stock valued at $41,469,000 after purchasing an additional 40,796 shares during the last quarter. MQS Management LLC bought a new stake in shares of Marvell Technology in the 3rd quarter valued at approximately $261,000. Plato Investment Management Ltd lifted its stake in shares of Marvell Technology by 2.5% in the 3rd quarter. Plato Investment Management Ltd now owns 16,479 shares of the semiconductor company’s stock valued at $1,187,000 after purchasing an additional 403 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Marvell Technology by 7.2% in the 3rd quarter. KBC Group NV now owns 121,865 shares of the semiconductor company’s stock valued at $8,788,000 after purchasing an additional 8,155 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Marvell Technology news, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value 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. This trade represents 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 ninety days. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Down 0.0 %

Shares of MRVL 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 stock’s fifty day moving average price is $104.78 and its 200 day moving average price is $93.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. 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.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MRVL. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Susquehanna raised their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Needham & Company LLC decreased their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, TD Cowen decreased their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.