Johnson Investment Counsel Inc. Trims Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Johnson Investment Counsel Inc. decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.6% during the fourth quarter, HoldingsChannel reports. The firm owned 4,469 shares of the semiconductor company’s stock after selling 263 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Marvell Technology were worth $494,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MRVL. True Wealth Design LLC grew its holdings in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC grew its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter valued at $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $33,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

NASDAQ MRVL opened at $68.76 on Friday. The stock has a market cap of $59.50 billion, a price-to-earnings ratio of -40.45, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company’s 50 day moving average is $105.68 and its two-hundred day moving average is $93.77. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brad W. Buss acquired 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRVL. B. Riley lifted their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Piper Sandler cut their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. KeyCorp lowered their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.44.

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.