SeaBridge Investment Advisors LLC Makes New $287,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

SeaBridge Investment Advisors LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,596 shares of the semiconductor company's stock, valued at approximately $287,000.

A number of other large investors have also bought and sold shares of the stock. Temasek Holdings Private Ltd raised its stake in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock valued at $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology during the third quarter worth approximately $120,116,000. Van ECK Associates Corp lifted its holdings in shares of Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock worth $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. Perpetual Ltd boosted its holdings in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company's stock valued at $77,591,000 after acquiring an additional 682,457 shares during the period. Finally, Nordea Investment Management AB grew its stake in Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company's stock worth $518,435,000 after acquiring an additional 571,005 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 5.3 %

Shares of Marvell Technology stock traded up $5.85 during trading hours on Wednesday, hitting $115.54. The company's stock had a trading volume of 8,112,340 shares, compared to its average volume of 13,049,206. The stock has a market cap of $99.98 billion, a price-to-earnings ratio of -68.07, a P/E/G ratio of 3.71 and a beta of 1.40. The firm has a fifty day moving average of $112.48 and a 200-day moving average of $88.27. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology's payout ratio is -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares of the company's stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company's stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America raised their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Cantor Fitzgerald raised their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Morgan Stanley reduced their target price on shares of Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. UBS Group raised their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.60.

Marvell Technology 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.