Independent Advisor Alliance Buys 13,582 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Independent Advisor Alliance boosted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 83.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,780 shares of the semiconductor company's stock after acquiring an additional 13,582 shares during the period. Independent Advisor Alliance's holdings in Marvell Technology were worth $3,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zweig DiMenna Associates LLC raised its stake in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new position in shares of Marvell Technology in the 4th quarter worth $637,000. RFG Advisory LLC raised its position in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after buying an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology during the 3rd quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Institutional investors own 83.51% of the company's stock.

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Marvell Technology Stock Down 1.6 %

Shares of NASDAQ:MRVL traded down $1.09 during midday trading on Thursday, reaching $68.76. The company's stock had a trading volume of 14,927,215 shares, compared to its average volume of 12,723,853. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market capitalization of $59.50 billion, a P/E ratio of -40.45, a PEG ratio of 1.61 and a beta of 1.42. The firm has a 50 day moving average of $105.68 and a 200-day moving average of $93.77. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brad W. Buss purchased 3,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now owns 87,113 shares of the company's stock, 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. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Benchmark reaffirmed a "buy" rating and issued a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. William Blair raised Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Citigroup reduced their price target on Marvell Technology from $136.00 to $122.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.