Park Avenue Securities LLC Acquires 10,704 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Park Avenue Securities LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,777 shares of the semiconductor company's stock after buying an additional 10,704 shares during the period. Park Avenue Securities LLC's holdings in Marvell Technology were worth $6,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC boosted its holdings in Marvell Technology by 1,181.8% during the second quarter. Quest Partners LLC now owns 1,128 shares of the semiconductor company's stock worth $79,000 after buying an additional 1,040 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Marvell Technology by 21.3% during the 2nd quarter. Federated Hermes Inc. now owns 49,412 shares of the semiconductor company's stock valued at $3,454,000 after purchasing an additional 8,666 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Marvell Technology by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,719 shares of the semiconductor company's stock valued at $268,711,000 after purchasing an additional 25,983 shares during the period. Citizens Financial Group Inc. RI bought a new stake in Marvell Technology during the 2nd quarter worth approximately $540,000. Finally, Primecap Management Co. CA raised its holdings in Marvell Technology by 98.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,802,700 shares of the semiconductor company's stock worth $126,009,000 after buying an additional 896,500 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael G. Strachan sold 5,000 shares of the business's stock in a transaction on Monday, January 6th. The shares were 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 owns 30,959 shares of the company's stock, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

Marvell Technology stock traded up $1.58 during midday trading on Thursday, reaching $117.58. 12,171,898 shares of the company's stock were exchanged, compared to its average volume of 10,521,574. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock's 50-day simple moving average is $105.61 and its 200 day simple moving average is $83.85. The firm has a market cap of $101.74 billion, a price-to-earnings ratio of -69.16, a P/E/G ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15.

Marvell Technology Announces Dividend

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 issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology's payout ratio is presently -14.12%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MRVL. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Cantor Fitzgerald increased their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. KeyCorp lifted their price target on Marvell Technology from $95.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Finally, Rosenblatt Securities lifted their target price on Marvell Technology from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $121.68.

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.