Holderness Investments Co. Has $493,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Holderness Investments Co. grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,465 shares of the semiconductor company’s stock after purchasing an additional 150 shares during the period. Holderness Investments Co.’s holdings in Marvell Technology were worth $493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp increased its position in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Geode Capital Management LLC grew its holdings in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the period. Nordea Investment Management AB lifted its stake in shares of Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after buying an additional 571,005 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Marvell Technology by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock worth $378,594,000 after buying an additional 165,858 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated 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 represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock valued at $4,026,768 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. UBS Group boosted their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Susquehanna increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald lifted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Stock Up 1.0 %

Shares of NASDAQ MRVL opened at $70.49 on Friday. 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. The business has a fifty day moving average of $99.94 and a two-hundred day moving average of $93.56. The stock has a market cap of $61.05 billion, a PE ratio of -41.46, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology 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.