Sara Bay Financial Purchases Shares of 2,423 Marvell Technology, Inc. (NASDAQ:MRVL)

Sara Bay Financial acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,423 shares of the semiconductor company's stock, valued at approximately $271,000.

Several other large investors also recently added to or reduced their stakes in MRVL. KRS Capital Management LLC lifted its position in Marvell Technology by 6.2% during the fourth quarter. KRS Capital Management LLC now owns 8,958 shares of the semiconductor company's stock valued at $989,000 after purchasing an additional 525 shares during the last quarter. Westend Capital Management LLC purchased a new position in Marvell Technology in the fourth quarter worth $14,516,000. Premier Path Wealth Partners LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $259,000. Sanibel Captiva Trust Company Inc. bought a new stake in Marvell Technology during the fourth quarter worth about $253,000. Finally, Howard Financial Services LTD. purchased a new position in shares of Marvell Technology in the 4th quarter worth about $473,000. Institutional investors own 83.51% of the company's stock.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares of the company's stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company's stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,099,650 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Cantor Fitzgerald boosted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.08.

Marvell Technology Stock Up 6.1 %

Shares of MRVL traded up $7.18 during trading hours on Friday, hitting $124.76. The company had a trading volume of 14,849,059 shares, compared to its average volume of 13,008,617. The stock 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. The firm has a fifty day moving average price of $106.70 and a 200-day moving average price of $84.46. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

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 paid a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology's dividend payout ratio is presently -14.12%.

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.