Moss Adams Wealth Advisors LLC Boosts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Moss Adams Wealth Advisors LLC lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 83.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,775 shares of the semiconductor company's stock after acquiring an additional 3,089 shares during the quarter. Moss Adams Wealth Advisors LLC's holdings in Marvell Technology were worth $748,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Davidson Kempner Capital Management LP boosted its holdings in shares of Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock worth $17,482,000 after purchasing an additional 52,365 shares during the period. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology during the third quarter valued at about $16,435,000. Charles Schwab Investment Management Inc. raised its stake in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock worth $235,247,000 after buying an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock worth $206,418,000 after buying an additional 535,203 shares during the period. Finally, Franchise Capital Ltd bought a new stake in Marvell Technology during the 4th quarter valued at approximately $1,476,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MRVL shares. KeyCorp raised their target price on Marvell Technology from $95.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. B. Riley upped their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald lifted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $123.08.

Marvell Technology Stock Performance

Marvell Technology stock traded up $7.18 during mid-day trading on Friday, reaching $124.76. 14,849,059 shares of the stock traded hands, compared to its average volume of 13,008,617. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15. The business's 50-day moving average is $106.70 and its 200-day moving average is $84.64. 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 stock has a market capitalization 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 Dividend Announcement

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

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock valued at $4,099,650. Insiders own 0.33% of the company's stock.

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.