Denver PWM LLC Sells 615 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Denver PWM LLC reduced its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 38.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 965 shares of the semiconductor company’s stock after selling 615 shares during the quarter. Denver PWM LLC’s holdings in Marvell Technology were worth $70,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. Wealth Enhancement Advisory Services LLC lifted its stake in Marvell Technology by 5.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 49,731 shares of the semiconductor company’s stock valued at $3,476,000 after acquiring an additional 2,441 shares during the period. Great Valley Advisor Group Inc. boosted its position in Marvell Technology by 16.8% in the second quarter. Great Valley Advisor Group Inc. now owns 6,324 shares of the semiconductor company’s stock worth $442,000 after purchasing an additional 909 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Marvell Technology by 1.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 72,893 shares of the semiconductor company’s stock valued at $5,095,000 after buying an additional 966 shares during the period. AdvisorNet Financial Inc raised its position in Marvell Technology by 4.7% in the second quarter. AdvisorNet Financial Inc now owns 3,870 shares of the semiconductor company’s stock worth $271,000 after acquiring an additional 175 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Marvell Technology by 29.5% during the 2nd quarter. Blue Trust Inc. now owns 5,938 shares of the semiconductor company’s stock worth $421,000 after acquiring an additional 1,354 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL opened at $109.01 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $119.88. The stock has a fifty day moving average price of $89.04 and a 200-day moving average price of $76.51.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MRVL shares. Cantor Fitzgerald raised their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC boosted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $119.04.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total transaction of $439,740.00. Following the transaction, the chief executive officer now owns 208,915 shares in the company, valued at approximately $15,311,380.35. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $14,076,540 over the last quarter. Insiders own 0.33% of the company’s stock.

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.