Stifel Financial Corp Buys 90,140 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Stifel Financial Corp lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,296,508 shares of the semiconductor company's stock after buying an additional 90,140 shares during the period. Stifel Financial Corp owned approximately 0.15% of Marvell Technology worth $93,510,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 326 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP purchased a new position in shares of Marvell Technology in the second quarter worth approximately $32,000. Whittier Trust Co. grew its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock valued at $35,000 after buying an additional 210 shares during the period. Finally, Briaud Financial Planning Inc purchased a new stake in Marvell Technology during the third quarter valued at approximately $43,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Marvell Technology from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday. Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an "outperform" rating in a research note on Monday. Benchmark reiterated a "buy" rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research note on Wednesday. TD Cowen increased their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Monday. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.04.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were 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 of the company's stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the completion of the sale, the executive vice president now directly owns 22,494 shares of the company's stock, valued at $1,593,250.02. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock worth $20,899,260 in the last three months. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Trading Up 0.1 %

Shares of MRVL traded up $0.14 during trading hours on Friday, reaching $113.51. 13,771,877 shares of the company traded hands, compared to its average volume of 12,319,948. The firm has a market cap of $100.59 billion, a price-to-earnings ratio of -66.77, a PEG ratio of 4.15 and a beta of 1.46. Marvell Technology, Inc. has a 12-month low of $50.56 and a 12-month high of $119.88. The stock's fifty day moving average price is $86.09 and its 200 day moving average price is $75.57. The company has a current ratio of 1.79, a quick ratio of 1.26 and a debt-to-equity ratio of 0.28.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology's dividend payout ratio is currently -14.12%.

About Marvell Technology

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.