Marvell Technology, Inc. (NASDAQ:MRVL) Short Interest Update

Marvell Technology, Inc. (NASDAQ:MRVL) experienced a notable rise in short interest during February. As of February 28th, the total short interest reached 24,230,000 shares, marking a 24.0% increase from the previous total of 19,540,000 shares recorded on February 13th. Currently, 2.8% of the company’s shares are being short sold. With an average trading volume of 17,370,000 shares, the days-to-cover ratio stands at 1.4 days.

Insider Activity at Marvell Technology

In related news, Director Brad W. Buss acquired 3,000 shares of Marvell stock in a transaction dated March 7th. The purchase price averaged $69.00 per share, leading to a total investment of $207,000. Following this acquisition, Buss owns 87,113 shares, valued at roughly $6,010,797, reflecting a 3.57% increase in their ownership. This transaction was reported in a legal filing accessible through the SEC's website.

On a different note, CFO Willem A. Meintjes sold 1,500 shares of Marvell stock on January 15th, at an average price of $118.33, totaling around $177,495. After the sale, Meintjes holds 111,211 shares worth approximately $13,159,598, indicating a decrease of 1.33% in their ownership. Over the previous quarter, insider transactions included a total of 28,755 shares sold, valued at $3,412,230. Insiders currently hold 0.33% of Marvell's stock.

Institutional Investors Weigh In On Marvell Technology

A number of hedge funds have adjusted their holdings in Marvell recently. Keystone Financial Services LLC established a new position in the company during the fourth quarter, valued at about $224,000. Castle Rock Wealth Management LLC significantly increased its stake by 165.8%, now owning 16,283 shares worth $1,734,000 after acquiring an additional 10,157 shares. Total Wealth Planning & Management Inc., Menard Financial Group LLC, and Universal Beteiligungs und Servicegesellschaft mbH also made new investments ranging from around $669,000 to $105,450,000. Overall, hedge funds and institutional investors now control 83.51% of Marvell’s shares.

Analyst Ratings Changes

Marvell has been featured in various analyst reports. Summit Insights downgraded the stock from a "buy" to a "hold" rating on March 6th. Conversely, Melius Research upgraded it to a "strong-buy" on January 27th. Raymond James set a price target of $110.00, while Rosenblatt Securities maintained a "buy" rating with a higher target of $140.00 on March 6th. William Blair also upgraded Marvell to a "strong-buy" on February 5th. Based on this analysis, there are three hold ratings, twenty-four buy ratings, and two strong buy ratings. According to MarketBeat.com, Marvell Technology currently holds a consensus rating of "Moderate Buy" with a target price of $120.44.

Marvell Technology Price Performance

As of mid-day trading on Monday, shares of MRVL rose by $1.66, reaching $70.40. The trading volume for the day was 13,406,724 shares, surpassing the average volume of 12,621,448. The stock has a fifty-day moving average of $102.82 and a 200-day average of $93.95. The financial ratios for the company indicate a quick ratio of 1.11, a current ratio of 1.60, and a debt-to-equity ratio of 0.30. The stock's 52-week low stands at $53.19, while the high is $127.48, with the market capitalization estimated at $60.92 billion. The PE ratio currently reflects -41.41, while the price-to-earnings-growth ratio is noted at 1.61.

Marvell Technology Company Profile

Marvell Technology, Inc. is a provider of data infrastructure semiconductor solutions, engaging across various sectors from data centers to network edges. The company specializes in developing intricate System-on-a-Chip architectures that integrate various functionalities including analog, mixed-signal, and digital signal processing.

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