Venturi Wealth Management LLC Acquires 2,464 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Venturi Wealth Management LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 993.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,712 shares of the semiconductor company's stock after purchasing an additional 2,464 shares during the period. Venturi Wealth Management LLC's holdings in Marvell Technology were worth $300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC grew its holdings in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company's stock worth $23,583,000 after acquiring an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC lifted its stake in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company's stock worth $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology during the 3rd quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 worth $235,247,000 after purchasing an additional 66,654 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Citigroup lifted their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Craig Hallum lifted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Rosenblatt Securities lifted their price target on Marvell Technology from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average target price of $127.60.

Marvell Technology Trading Down 4.5 %

NASDAQ MRVL traded down $4.86 during trading hours on Friday, hitting $103.85. The company's stock had a trading volume of 11,006,714 shares, compared to its average volume of 12,895,910. The stock has a fifty day moving average of $113.59 and a 200 day moving average of $92.01. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market capitalization of $89.86 billion, a P/E ratio of -61.09, a PEG ratio of 1.64 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. 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 dividend payout ratio (DPR) is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm'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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology 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 sale, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. 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 quarter. 0.33% of the stock is currently 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.