Steward Partners Investment Advisory LLC Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Steward Partners Investment Advisory LLC grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 357,025 shares of the semiconductor company’s stock after purchasing an additional 27,148 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Marvell Technology were worth $39,433,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MRVL. Bravias Capital Group LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $240,000. Meridian Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $327,000. Fidelis Capital Partners LLC grew its holdings in shares of Marvell Technology by 37.2% during the fourth quarter. Fidelis Capital Partners LLC now owns 5,194 shares of the semiconductor company’s stock worth $590,000 after buying an additional 1,408 shares during the last quarter. DJE Kapital AG purchased a new position in shares of Marvell Technology during the fourth quarter worth about $6,975,000. Finally, Plato Investment Management Ltd grew its holdings in shares of Marvell Technology by 131.9% during the fourth quarter. Plato Investment Management Ltd now owns 38,221 shares of the semiconductor company’s stock worth $4,237,000 after buying an additional 21,742 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,255 shares of company stock worth $4,330,980. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRVL. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Susquehanna lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus lifted their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Rosenblatt Securities lifted their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Down 6.5 %

Shares of Marvell Technology stock opened at $85.83 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a market capitalization of $74.27 billion, a P/E ratio of -50.49, a P/E/G ratio of 1.61 and a beta of 1.40. The business has a 50 day moving average price of $111.63 and a 200 day moving average price of $93.59.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.28%. Marvell Technology’s dividend payout ratio (DPR) is presently -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.