D.A. Davidson & CO. Has $6.32 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

D.A. Davidson & CO. lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 57,242 shares of the semiconductor company’s stock after selling 2,814 shares during the period. D.A. Davidson & CO.’s holdings in Marvell Technology were worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Exchange Traded Concepts LLC lifted its position in Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 336 shares during the last quarter. Creative Planning lifted its position in Marvell Technology by 37.5% during the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock worth $7,482,000 after acquiring an additional 28,286 shares during the last quarter. Swedbank AB lifted its position in Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after acquiring an additional 23,680 shares during the last quarter. Blue Trust Inc. lifted its position in Marvell Technology by 19.6% during the 3rd quarter. Blue Trust Inc. now owns 7,102 shares of the semiconductor company’s stock worth $496,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $111.04 on Thursday. 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 stock has a market capitalization of $96.08 billion, a price-to-earnings ratio of -65.32, a P/E/G ratio of 1.58 and a beta of 1.40. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm’s 50-day moving average price is $113.93 and its two-hundred day moving average price is $91.57.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.22%. Marvell Technology’s dividend payout ratio is -14.12%.

Analysts Set New Price Targets

A number of research firms have weighed in on MRVL. The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Morgan Stanley cut their price objective on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Citigroup upped their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Susquehanna upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

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.