Sowell Financial Services LLC Buys New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Sowell Financial Services LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,348 shares of the semiconductor company's stock, valued at approximately $2,468,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $61,000. OFI Invest Asset Management bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $39,065,000. Amundi lifted its position in shares of Marvell Technology by 20.1% in the 4th quarter. Amundi now owns 3,281,354 shares of the semiconductor company's stock worth $387,954,000 after acquiring an additional 549,705 shares during the period. Permanent Capital Management LP bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $397,000. Finally, Dorsey & Whitney Trust CO LLC lifted its position in shares of Marvell Technology by 3.4% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 21,646 shares of the semiconductor company's stock worth $2,391,000 after acquiring an additional 720 shares during the period. Institutional investors own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of research reports. Melius Research upgraded Marvell Technology to a "strong-buy" rating in a research report on Monday, January 27th. Needham & Company LLC decreased their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday. UBS Group boosted their price target on Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, B. Riley boosted their price target on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Marvell Technology currently has a consensus rating of "Moderate Buy" and an average target price of $121.68.

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Marvell Technology Trading Down 2.0 %

MRVL stock opened at $70.84 on Monday. The company has a market cap of $61.30 billion, a P/E ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $108.27 and a 200-day moving average of $94.00.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology's payout ratio is currently -23.53%.

Insider Transactions at Marvell Technology

In related news, Director Brad W. Buss acquired 3,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now owns 87,113 shares of the company's stock, valued at $6,010,797. This trade represents a 3.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 over the last 90 days. 0.33% of the stock is owned by insiders.

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.

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