First Bank & Trust Buys 4,050 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

First Bank & Trust increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 20.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,774 shares of the semiconductor company's stock after purchasing an additional 4,050 shares during the period. First Bank & Trust's holdings in Marvell Technology were worth $2,626,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Zweig DiMenna Associates LLC grew its stake in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC bought a new position in Marvell Technology in the fourth quarter worth approximately $637,000. RFG Advisory LLC grew its stake in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock valued at $4,708,000 after acquiring an additional 2,507 shares during the period. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology during the third quarter valued at approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Marvell Technology by 2.1% during the third 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 period. 83.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group boosted their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Oppenheimer boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Susquehanna boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.60.

Marvell Technology Stock Performance

MRVL stock traded down $4.86 during midday trading on Friday, reaching $103.85. 10,504,569 shares of the company's stock traded hands, compared to its average volume of 12,757,242. The firm has a market capitalization of $89.86 billion, a PE ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. The company has a 50-day moving average price of $113.93 and a two-hundred day moving average price of $91.69. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is -14.12%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction 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 approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company's stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by company insiders.

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.