Howard Financial Services LTD. Buys Shares of 4,282 Marvell Technology, Inc. (NASDAQ:MRVL)

Howard Financial Services LTD. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,282 shares of the semiconductor company's stock, valued at approximately $473,000.

Several other large investors have also bought and sold shares of MRVL. Ameriprise Financial Inc. lifted its holdings in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock valued at $812,509,000 after purchasing an additional 2,254,610 shares in the last quarter. Temasek Holdings Private Ltd raised its position in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company's stock worth $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new position in Marvell Technology during the 3rd quarter valued at about $120,116,000. Van ECK Associates Corp boosted its holdings in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. Finally, D1 Capital Partners L.P. bought a new stake in shares of Marvell Technology in the second quarter worth approximately $108,204,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,099,650. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Up 6.1 %

MRVL traded up $7.18 during trading hours on Friday, reaching $124.76. 14,849,059 shares of the company's stock traded hands, compared to its average volume of 13,008,617. The firm has a 50-day moving average price of $106.70 and a 200 day moving average price of $84.46. The firm has a market capitalization of $107.95 billion, a PE ratio of -73.39, a PEG ratio of 3.76 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. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15.

Marvell Technology Announces Dividend

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 $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. Marvell Technology's dividend payout ratio is currently -14.12%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Citigroup increased their price target on Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. TD Cowen lifted their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. KeyCorp upped their price objective on Marvell Technology from $95.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, UBS Group raised their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and an average price target of $123.08.

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.