2,450 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Accurate Wealth Management LLC

Accurate Wealth Management LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,450 shares of the semiconductor company's stock, valued at approximately $280,000.

A number of other institutional investors also recently bought and sold shares of MRVL. Davidson Kempner Capital Management LP increased its position in Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock worth $17,482,000 after buying an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in Marvell Technology in the 3rd quarter valued at about $16,435,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock worth $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $1,476,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 6.1 %

Shares of MRVL stock traded up $7.18 during mid-day trading on Friday, hitting $124.76. 14,825,035 shares of the stock traded hands, compared to its average volume of 10,912,597. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market cap of $107.95 billion, a P/E ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The stock's fifty day moving average is $106.09 and its two-hundred day moving average is $84.09.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology's payout ratio is presently -14.12%.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The shares were 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 owns 114,211 shares of the company's stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,500 shares of company stock worth $2,967,670. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of recent analyst reports. KeyCorp increased their price target on Marvell Technology from $95.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Needham & Company LLC increased their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Citigroup boosted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald upped their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Three equities research 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.08.

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.