Premier Path Wealth Partners LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Premier Path Wealth Partners LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,347 shares of the semiconductor company's stock, valued at approximately $259,000.

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

Analyst Ratings Changes

MRVL has been the topic of a number of research analyst reports. Susquehanna boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a "positive" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Citigroup lifted their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Craig Hallum upped their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Loop Capital raised their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $124.96.

Marvell Technology Stock Up 6.1 %

NASDAQ MRVL traded up $7.18 during trading hours on Monday, hitting $124.76. The company had a trading volume of 14,849,059 shares, compared to its average volume of 13,008,617. The firm's 50 day moving average is $106.70 and its 200 day moving average is $84.64. The company has a market capitalization of $107.95 billion, a price-to-earnings ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. 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 Dividend Announcement

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

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares of the company's stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,755 shares of company stock valued at $3,615,030 in the last ninety days. 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.