Mirador Capital Partners LP purchased 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 SEC. The fund purchased 3,544 shares of the semiconductor company's stock, valued at approximately $391,000.
Several other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its stake 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 purchasing an additional 326 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP bought a new stake in shares of Marvell Technology during the 2nd quarter worth $32,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth $33,000. Institutional investors own 83.51% of the company's stock.
Insider Transactions at Marvell Technology
In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,500 shares of company stock valued at $2,967,670 in the last three months. 0.33% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a report on Thursday, January 9th. Cantor Fitzgerald upped their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Barclays upped their price objective on shares of Marvell Technology from $115.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday. Three 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, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.08.
Get Our Latest Stock Report on MRVL
Marvell Technology Stock Up 6.1 %
Shares of NASDAQ:MRVL traded up $7.18 during trading on Friday, hitting $124.76. The stock had a trading volume of 14,845,467 shares, compared to its average volume of 10,912,597. The company 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. The firm's fifty day moving average is $106.09 and its 200 day moving average is $84.09. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15.
Marvell Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.
About Marvell Technology
(
Free Report)
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.
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