Bank of Montreal Can increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 191.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 786,860 shares of the semiconductor company's stock after purchasing an additional 516,571 shares during the period. Bank of Montreal Can owned 0.09% of Marvell Technology worth $86,909,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC grew its holdings in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after purchasing an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC increased its holdings in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock worth $4,708,000 after buying an additional 2,507 shares during the last quarter. Franchise Capital Ltd purchased a new position in shares of Marvell Technology in the 4th quarter worth about $1,476,000. Finally, United Asset Strategies Inc. lifted its position in Marvell Technology by 7.1% during the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock valued at $24,287,000 after buying an additional 14,547 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Marvell Technology
In related news, Director Brad W. Buss bought 3,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares of the company's stock, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction dated Friday, January 17th. The shares were 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. In the last three months, insiders sold 30,185 shares of company stock valued at $3,131,018. 0.33% of the stock is owned by insiders.
Analyst Ratings Changes
MRVL has been the subject of a number of recent research reports. Raymond James set a $110.00 target price on Marvell Technology in a research note on Thursday, March 6th. Rosenblatt Securities restated a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. William Blair upgraded Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Citigroup lowered their price objective on Marvell Technology from $122.00 to $96.00 and set a "buy" rating for the company in a research note on Friday. Finally, Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.48.
Check Out Our Latest Report on Marvell Technology
Marvell Technology Price Performance
NASDAQ MRVL traded up $0.52 on Friday, reaching $53.39. 17,706,981 shares of the stock traded hands, compared to its average volume of 13,431,231. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm's fifty day simple moving average is $79.86 and its 200 day simple moving average is $92.18. The company has a market cap of $46.24 billion, a price-to-earnings ratio of -31.41, a P/E/G ratio of 1.61 and a beta of 1.78.
Marvell Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.
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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