Fulton Breakefield Broenniman LLC Has $860,000 Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Fulton Breakefield Broenniman LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,784 shares of the semiconductor company’s stock after selling 208 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Marvell Technology were worth $860,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. Quarry LP bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the second quarter valued at approximately $32,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MRVL shares. Piper Sandler reiterated an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Needham & Company LLC boosted their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen boosted their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Loop Capital upped their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Up 3.5 %

Marvell Technology stock opened at $103.88 on Wednesday. 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 stock has a market capitalization of $89.89 billion, a price-to-earnings ratio of -61.11, a PEG ratio of 4.12 and a beta of 1.41. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The business has a fifty day moving average price of $110.63 and a 200-day moving average price of $86.85.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale 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 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 sold 37,755 shares of company stock worth $4,361,430 in the last 90 days. Insiders own 0.33% of the company’s stock.

About Marvell Technology

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.