Grandview Asset Management LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Grandview Asset Management LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,629 shares of the semiconductor company's stock, valued at approximately $2,720,000. Marvell Technology makes up about 1.0% of Grandview Asset Management LLC's investment portfolio, making the stock its 24th largest position.

Several other institutional investors have also recently bought and sold shares of MRVL. Davidson Kempner Capital Management LP raised its position in shares of 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 acquiring an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in Marvell Technology in the third quarter worth about $16,435,000. Charles Schwab Investment Management Inc. raised its holdings in 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. lifted its position in Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock valued at $206,418,000 after purchasing an additional 535,203 shares during the period. Finally, Franchise Capital Ltd bought a new position in shares of Marvell Technology in the 4th quarter valued at about $1,476,000. Institutional investors own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of several analyst reports. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price target on Marvell Technology from $115.00 to $131.00 and gave the company a "buy" rating in a research note on Friday. Loop Capital lifted their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Craig Hallum raised their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $121.68.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Up 0.0 %

Shares of NASDAQ:MRVL traded up $0.05 during midday trading on Tuesday, reaching $115.20. The company had a trading volume of 6,880,769 shares, compared to its average volume of 10,306,395. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The stock has a market cap of $99.68 billion, a PE ratio of -67.76, a P/E/G ratio of 4.03 and a beta of 1.41. 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 business's 50 day moving average price is $104.54 and its 200 day moving average price is $83.31.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology's dividend payout ratio is currently -14.12%.

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.