Baader Bank Aktiengesellschaft Purchases New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Baader Bank Aktiengesellschaft purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the semiconductor company’s stock, valued at approximately $1,104,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MRVL. Mackenzie Financial Corp increased its position in shares of Marvell Technology by 30.8% during the second quarter. Mackenzie Financial Corp now owns 73,644 shares of the semiconductor company’s stock worth $5,148,000 after purchasing an additional 17,342 shares in the last quarter. Creative Planning boosted its stake in Marvell Technology by 4.1% during the second quarter. Creative Planning now owns 75,454 shares of the semiconductor company’s stock worth $5,274,000 after buying an additional 2,982 shares during the last quarter. Quarry LP acquired a new position in Marvell Technology during the second quarter worth $32,000. EP Wealth Advisors LLC boosted its stake in Marvell Technology by 15.4% during the second quarter. EP Wealth Advisors LLC now owns 7,711 shares of the semiconductor company’s stock worth $539,000 after buying an additional 1,031 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in Marvell Technology by 15.4% during the second quarter. Truist Financial Corp now owns 974,756 shares of the semiconductor company’s stock worth $68,135,000 after buying an additional 129,831 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $4,361,430 over the last three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Needham & Company LLC upped their target price on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Finally, UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Up 2.8 %

Shares of NASDAQ:MRVL opened at $106.79 on Thursday. 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, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The business has a fifty day simple moving average of $110.97 and a 200 day simple moving average of $86.99.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.