By otakuyassine3@gmail.com 
Allworth Financial LP lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 12.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,560 shares of the semiconductor company’s stock after purchasing an additional 494 shares during the period. Allworth Financial LP’s holdings in Marvell Technology were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of MRVL. Zweig DiMenna Associates LLC grew its holdings in Marvell Technology by 6.3% during the fourth 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 acquired a new position in shares of Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC increased its holdings in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology in the third quarter valued at about $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Marvell Technology
In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was 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 have sold a total of 36,255 shares of company stock worth $4,330,980 in the last quarter. 0.33% of the stock is owned by insiders.
Marvell Technology Trading Down 2.1 %
NASDAQ MRVL opened at $108.66 on Friday. The company has a market cap of $94.03 billion, a P/E ratio of -63.92, a P/E/G ratio of 1.59 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. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a 50-day moving average of $113.93 and a 200-day moving average of $91.69.
Marvell Technology Announces Dividend
The business 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 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.
Analyst Ratings Changes
MRVL has been the subject of a number of research analyst reports. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company raised their price objective on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Craig Hallum boosted their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Stifel Nicolaus raised their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.
Marvell Technology Company 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.
Further Reading
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