Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 14.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 147,195 shares of the semiconductor company’s stock after purchasing an additional 18,481 shares during the period. NewEdge Advisors LLC’s holdings in Marvell Technology were worth $16,258,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC raised 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 valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new stake in Marvell Technology during the fourth quarter worth about $637,000. RFG Advisory LLC boosted its stake in shares of Marvell Technology by 6.2% in the fourth 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 during the period. Franchise Capital Ltd acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $1,476,000. Finally, United Asset Strategies Inc. increased its stake in Marvell Technology by 7.1% during the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock worth $24,287,000 after buying an additional 14,547 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Raymond James set a $110.00 target price on Marvell Technology in a research note on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Finally, Needham & Company LLC cut their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Three investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.70.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark Casper sold 7,755 shares of the business’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 value of $954,485.40. The disclosure for this sale can be found here. Insiders have sold a total of 28,685 shares of company stock worth $2,953,523 in the last three months. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $51.93 on Thursday. The business’s 50-day moving average price is $76.09 and its 200 day moving average price is $91.51. 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 firm has a market cap of $44.97 billion, a P/E ratio of -30.55, a P/E/G ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.