AlphaQuest LLC Makes New $61,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

AlphaQuest LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 555 shares of the semiconductor company’s stock, valued at approximately $61,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zweig DiMenna Associates LLC boosted its position in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at about $637,000. RFG Advisory LLC boosted 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 acquiring an additional 2,507 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 valued at $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after acquiring an additional 535,203 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MRVL shares. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Thursday, March 6th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. B. Riley boosted their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Activity at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was 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 over the last three months. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL opened at $69.81 on Thursday. The stock has a 50 day moving average price of $100.89 and a 200 day moving average price of $93.72. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $60.46 billion, a price-to-earnings ratio of -41.06, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

About Marvell Technology

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.