RFG Advisory LLC Increases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

RFG Advisory LLC increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,621 shares of the semiconductor company’s stock after purchasing an additional 2,507 shares during the quarter. RFG Advisory LLC’s holdings in Marvell Technology were worth $4,708,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the period. Geode Capital Management LLC boosted its position in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares during the last quarter. Wellington Management Group LLP grew its stake in Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the period. Finally, Van ECK Associates Corp grew its stake in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $126.06 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company’s 50-day moving average is $108.68 and its 200 day moving average is $85.65. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated 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 owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This 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 37,755 shares of company stock worth $4,361,430 in the last three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MRVL. Oppenheimer boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, UBS Group increased their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.38.

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.