Booking a Slice of Big Chip Gains
We continue to like the long-term outlook for this company, but we remain disciplined investors.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
MRVL | Sell | 230 | 69.60 | 2,690 | 4.1 |
After you receive this Alert, we will sell 230 shares of Marvell Technology MRVL at or near $69.60. Following the trade, MRVL shares will account for roughly 4.1% of the portfolio’s assets.
As we alluded to late this week, and again in today’s video, the continued surge in Marvell shares, up more than 20% off the recent low near $57.67, and pushing the position size to just over 4.5%, is leading us do some register ringing. Because of continued AI and data center spending by Big Tech companies and the data creation-consumption explosion we see ahead that will bottleneck existing digital infrastructure capacity, we continue to see further upside ahead for MRVL.
Even though we are making this prudent move today, with more than 30% upside to our price target, we continue to rate MRVL shares a One. Should the shares successfully test their 50-day moving average ($68.09), it would help build support for them. Continuing to hold above the 200-day moving average should do the same, especially with institutional investors.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long MRVL.
