2,290 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,290 shares of the semiconductor company's stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Marvell Technology by 21.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company's stock worth $2,344,000 after acquiring an additional 5,969 shares during the last quarter. Intech Investment Management LLC lifted its stake in Marvell Technology by 14.7% during the second quarter. Intech Investment Management LLC now owns 89,450 shares of the semiconductor company's stock worth $6,253,000 after purchasing an additional 11,441 shares during the last quarter. Bridges Investment Management Inc. purchased a new position in shares of Marvell Technology in the 2nd quarter worth about $255,000. AE Wealth Management LLC increased its position in shares of Marvell Technology by 64.5% during the 2nd quarter. AE Wealth Management LLC now owns 57,771 shares of the semiconductor company's stock valued at $4,038,000 after purchasing an additional 22,642 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Marvell Technology by 28.8% during the 2nd quarter. Pacer Advisors Inc. now owns 52,685 shares of the semiconductor company's stock valued at $3,683,000 after buying an additional 11,792 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Up 6.1 %

MRVL traded up $7.18 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. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The firm has a market capitalization of $107.95 billion, a P/E ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. The stock has a fifty day simple moving average of $106.70 and a 200-day simple moving average of $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.

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 given a $0.06 dividend. 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 is presently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares of the company's stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 of the company's stock, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,755 shares of company stock worth $3,615,030 in the last three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. 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. StockNews.com raised shares of Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Bank of America lifted their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Craig Hallum upped their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Finally, Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $124.96.

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.