Marvell Technology, Inc. (NASDAQ:MRVL) Position Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,195 shares of the semiconductor company's stock after buying an additional 18,481 shares during the quarter. NewEdge Advisors LLC's holdings in Marvell Technology were worth $16,258,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MRVL. Intrepid Financial Planning Group LLC boosted its position in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after acquiring an additional 90 shares during the last quarter. PDS Planning Inc grew its stake in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares during the period. Lodestone Wealth Management LLC increased its stake in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after acquiring an additional 93 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock valued at $414,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Performance

MRVL traded down $3.03 during trading hours on Monday, hitting $48.67. 3,909,961 shares of the stock were exchanged, compared to its average volume of 17,289,637. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 12 month low of $47.08 and a 12 month high of $127.48. The stock has a 50-day simple moving average of $73.72 and a 200-day simple moving average of $91.50. The stock has a market cap of $42.15 billion, a price-to-earnings ratio of -28.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio is presently -23.53%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Melius assumed coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a "buy" rating and a $188.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday. Roth Capital set a $100.00 price objective on Marvell Technology in a research report on Thursday, March 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Three 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $116.41.

Insider Buying and Selling

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company's stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,930 shares of company stock worth $1,999,038 over the last quarter. 0.33% of the stock is owned by company insiders.

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.