Valeo Financial Advisors LLC Increases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Valeo Financial Advisors LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,877 shares of the semiconductor company’s stock after buying an additional 120 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Marvell Technology were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MRVL. Temasek Holdings Private Ltd lifted its stake in shares of Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP purchased a new position in Marvell Technology during the third quarter worth about $120,116,000. Van ECK Associates Corp lifted its position in Marvell Technology by 26.6% in the third 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. Perpetual Ltd boosted its holdings in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,255 shares of company stock valued at $3,692,880 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 2.9 %

Shares of NASDAQ MRVL opened at $106.51 on Friday. The stock has a market capitalization of $92.16 billion, a PE ratio of -62.65, a P/E/G ratio of 1.77 and a beta of 1.40. 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 fifty day moving average of $113.94 and a 200-day moving average of $90.62. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Marvell Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of analyst reports. Bank of America lifted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Craig Hallum upped their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays raised their price objective on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Cantor Fitzgerald boosted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $127.60.

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.