Smith Salley Wealth Management Acquires 9,438 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Smith Salley Wealth Management lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,578 shares of the semiconductor company's stock after purchasing an additional 9,438 shares during the period. Marvell Technology accounts for approximately 1.3% of Smith Salley Wealth Management's holdings, making the stock its 23rd largest holding. Smith Salley Wealth Management's holdings in Marvell Technology were worth $19,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in shares of Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company's stock worth $1,438,336,000 after acquiring an additional 68,893 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company's stock worth $812,509,000 after purchasing an additional 2,254,610 shares in the last quarter. Geode Capital Management LLC raised its holdings in Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company's stock worth $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP raised its holdings in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company's stock worth $627,034,000 after buying an additional 359,005 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company's stock valued at $538,868,000 after buying an additional 1,570,050 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ MRVL traded up $7.18 during mid-day trading on Friday, hitting $124.76. 14,849,059 shares of the stock traded hands, compared to its average volume of 13,008,617. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market cap of $107.95 billion, a PE ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The firm has a 50 day simple moving average of $106.70 and a two-hundred day simple moving average of $84.64.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares of the company's stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock valued at $4,099,650. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on MRVL shares. B. Riley upped their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, January 6th. Craig Hallum boosted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Morgan Stanley upped their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Finally, Bank of America lifted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.08.

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.