28,395 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,395 shares of the semiconductor company’s stock, valued at approximately $3,136,000.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Marvell Technology by 13.7% in the 3rd quarter. GAMMA Investing LLC now owns 7,333 shares of the semiconductor company’s stock valued at $529,000 after acquiring an additional 882 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in Marvell Technology by 9.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock valued at $359,000 after acquiring an additional 418 shares during the last quarter. Brookstone Capital Management acquired a new stake in Marvell Technology in the 3rd quarter valued at about $216,000. CWM LLC lifted its holdings in Marvell Technology by 17.6% in the 3rd quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after acquiring an additional 3,760 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in Marvell Technology by 10.5% in the 3rd quarter. Wedmont Private Capital now owns 9,381 shares of the semiconductor company’s stock valued at $692,000 after acquiring an additional 894 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This 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 90 days. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on MRVL. Needham & Company LLC upped their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. TD Cowen boosted their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. B. Riley boosted their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Price Performance

Shares of MRVL opened at $119.24 on Friday. 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 stock has a market cap of $103.18 billion, a P/E ratio of -70.14, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40. The stock’s 50-day moving average price is $113.59 and its two-hundred day moving average price is $88.68.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.