Avanza Fonder AB purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,115 shares of the semiconductor company's stock, valued at approximately $8,076,000.
Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the second quarter worth $32,000. Quarry LP acquired a new position in shares of Marvell Technology in the second quarter valued at $32,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on MRVL shares. Oppenheimer upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Rosenblatt Securities increased their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Needham & Company LLC boosted their price target on Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Susquehanna upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a report on Wednesday, December 4th. Finally, Loop Capital lifted their target price on Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a report 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $123.08.
Get Our Latest Stock Report on Marvell Technology
Marvell Technology Price Performance
NASDAQ MRVL traded up $7.18 during trading on Friday, hitting $124.76. 14,849,059 shares of the company's stock were exchanged, compared to its average volume of 10,915,694. The company has a market cap of $107.95 billion, a PE ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The stock's 50 day moving average price is $106.09 and its two-hundred day moving average price is $84.09.
Marvell Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology's payout ratio is presently -14.12%.
Insider Activity
In related news, EVP Chris Koopmans sold 6,000 shares of the firm's 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 completion of the transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the sale, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,500 shares of company stock worth $2,967,670. Insiders own 0.33% of the company's stock.
Marvell Technology Company Profile
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Free Report)
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.
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