Stonebridge Financial Group LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 3,051 shares of the semiconductor company's stock, valued at approximately $337,000.
Other hedge funds have also modified their holdings of the company. ORG Partners LLC grew its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth $33,000. Financial Life Planners acquired a new stake in Marvell Technology in the fourth quarter valued at $33,000. GHP Investment Advisors Inc. boosted its stake in Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 112 shares during the last quarter. Finally, True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.
Marvell Technology Price Performance
Shares of MRVL stock traded up $3.01 during midday trading on Friday, reaching $106.51. 13,532,440 shares of the company were exchanged, compared to its average volume of 13,070,750. The company's 50 day moving average price is $113.94 and its two-hundred day moving average price is $90.62. 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 company has a market cap of $92.16 billion, a P/E ratio of -62.65, a PEG ratio of 1.77 and a beta of 1.40. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.
Marvell Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology's payout ratio is currently -14.12%.
Insider Buying and Selling at Marvell Technology
In related news, EVP Chris Koopmans sold 6,000 shares of the 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 $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares of the company's stock, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on MRVL. Morgan Stanley cut their target price on shares of Marvell Technology from $120.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Oppenheimer increased their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. TD Cowen boosted their price target on Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.60.
Read Our Latest Research Report on MRVL
About Marvell Technology
(
Free Report)
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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