Accurate Wealth Management LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 2,450 shares of the semiconductor company’s stock, valued at approximately $280,000.
Other large investors also recently made changes to their positions in the company. Davidson Kempner Capital Management LP boosted its stake in Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after acquiring an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology during the third quarter worth $16,435,000. Charles Schwab Investment Management Inc. increased its position in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares during the period. Finally, Franchise Capital Ltd bought a new position in Marvell Technology during the fourth quarter worth about $1,476,000. Institutional investors and hedge funds own 83.51% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on MRVL shares. Needham & Company LLC increased their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays raised their target price on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Susquehanna upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. UBS Group raised their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $121.68.
Marvell Technology Trading Up 1.4 %
Shares of NASDAQ:MRVL opened at $117.58 on Friday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market capitalization of $101.74 billion, a P/E ratio of -69.16, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. The company has a 50-day simple moving average of $106.09 and a 200 day simple moving average of $84.09.
Marvell Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is currently -14.12%.
Insider Buying and Selling
In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the sale, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by insiders.
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.
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