LPL Financial LLC Buys 113,389 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

LPL Financial LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 20.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 675,332 shares of the semiconductor company's stock after purchasing an additional 113,389 shares during the period. LPL Financial LLC owned approximately 0.08% of Marvell Technology worth $74,590,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MRVL. Fox Run Management L.L.C. purchased a new position in shares of Marvell Technology in the fourth quarter valued at about $537,000. KLP Kapitalforvaltning AS bought a new stake in shares of Marvell Technology in the fourth quarter worth about $45,211,000. Knights of Columbus Asset Advisors LLC purchased a new position in Marvell Technology during the 4th quarter valued at about $60,000. Intellus Advisors LLC bought a new position in Marvell Technology during the 4th quarter valued at approximately $928,000. Finally, Sei Investments Co. lifted its holdings in Marvell Technology by 64.2% in the 4th quarter. Sei Investments Co. now owns 1,077,226 shares of the semiconductor company's stock worth $118,977,000 after buying an additional 421,349 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded down $2.82 during mid-day trading on Friday, reaching $62.04. The company's stock had a trading volume of 18,769,219 shares, compared to its average volume of 12,913,647. The stock has a fifty day moving average of $94.05 and a two-hundred day moving average of $93.62. The firm has a market capitalization of $53.73 billion, a PE ratio of -36.49, a P/E/G ratio of 1.61 and a beta of 1.42. 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 current ratio of 1.60 and a quick ratio of 1.11.

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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 paid a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.39%. Marvell Technology's payout ratio is -23.53%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MRVL. Barclays reduced their target price on Marvell Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Rosenblatt Securities reissued a "buy" rating and set a $140.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Benchmark reaffirmed a "buy" rating and issued a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Craig Hallum boosted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Melius Research upgraded shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.44.

Insiders Place Their Bets

In related news, CAO Panteha Dixon sold 1,430 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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.