Avalon Capital Management Boosts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Avalon Capital Management increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,601 shares of the semiconductor company’s stock after buying an additional 285 shares during the quarter. Marvell Technology comprises approximately 2.0% of Avalon Capital Management’s portfolio, making the stock its 13th largest position. Avalon Capital Management’s holdings in Marvell Technology were worth $6,252,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MRVL. True Wealth Design LLC increased its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC grew its holdings in shares of 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 purchasing an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $26,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Morgan Stanley reiterated an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Bank of America boosted their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Melius started coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Finally, Needham & Company LLC boosted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following 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. In the last quarter, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by insiders.

Marvell Technology Trading Down 5.7 %

MRVL opened at $97.91 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a market cap of $84.72 billion, a P/E ratio of -57.59, a PEG ratio of 1.61 and a beta of 1.40. The business’s 50-day simple moving average is $113.05 and its 200-day simple moving average is $92.76.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. Marvell Technology’s 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.