Oddo BHF Asset Management Sas Invests $10.94 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Oddo BHF Asset Management Sas bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 151,749 shares of the semiconductor company’s stock, valued at approximately $10,944,000.

Several other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI lifted its stake in Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 116 shares during the period. Crumly & Associates Inc. boosted its stake in shares of Marvell Technology by 1.5% in the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock worth $593,000 after acquiring an additional 121 shares during the last quarter. United Capital Management of KS Inc. boosted its stake in Marvell Technology by 0.4% during the 3rd quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock worth $2,470,000 after purchasing an additional 131 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Marvell Technology by 1.4% during the third quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock worth $716,000 after acquiring an additional 139 shares during the last quarter. Finally, ASB Consultores LLC boosted its position in shares of Marvell Technology by 3.8% during the 3rd quarter. ASB Consultores LLC now owns 3,824 shares of the semiconductor company’s stock valued at $276,000 after acquiring an additional 140 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.87, for a total value of $110,805.00. Following the transaction, the chief financial officer now directly owns 111,753 shares of the company’s stock, valued at $8,255,194.11. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew J. Murphy sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.29, for a total value of $439,740.00. Following the sale, the chief executive officer now owns 208,915 shares of the company’s stock, valued at approximately $15,311,380.35. This represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,000 shares of company stock valued at $14,076,540. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

MRVL stock opened at $118.03 on Friday. The company’s 50 day simple moving average is $89.04 and its 200-day simple moving average is $76.51. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $119.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MRVL shares. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. lifted their target price 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. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Susquehanna upped their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Finally, TD Cowen raised their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.04.

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.