Callahan Advisors LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Callahan Advisors LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,400 shares of the semiconductor company’s stock, valued at approximately $265,000.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the 4th quarter worth approximately $33,000. Financial Life Planners bought a new position in Marvell Technology in the 4th quarter valued at $33,000. Finally, Whittier Trust Co. grew its position in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,255 shares of company stock valued at $3,692,880. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MRVL. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. B. Riley lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp upped their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Up 0.7 %

Marvell Technology stock opened at $107.29 on Wednesday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $113.93 and a 200-day moving average of $91.10.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given 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 0.22%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Marvell Technology Company 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.