Azimuth Capital Investment Management LLC Buys New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Azimuth Capital Investment Management LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 95,732 shares of the semiconductor company's stock, valued at approximately $10,574,000.

Other hedge funds also recently modified their holdings of the company. Intrepid Financial Planning Group LLC grew its holdings in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after purchasing an additional 90 shares during the last quarter. PDS Planning Inc grew its stake in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC increased its holdings in shares of Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after buying an additional 93 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after buying an additional 96 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

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Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares of the company's stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,185 shares of company stock valued at $3,131,018. Company insiders own 0.33% of the company's stock.

Marvell Technology Stock Performance

MRVL stock traded up $0.52 during midday trading on Friday, reaching $53.39. 17,706,981 shares of the company's stock traded hands, compared to its average volume of 13,431,231. The stock's 50-day moving average is $79.86 and its 200 day moving average is $92.18. The stock has a market cap of $46.24 billion, a P/E ratio of -31.41, a PEG ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.45%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. KeyCorp lowered their price target on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Craig Hallum raised their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Raymond James set a $110.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $119.48.

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.