Financial Security Advisor Inc. Takes $204,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Financial Security Advisor Inc. acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,843 shares of the semiconductor company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares during the period. Geode Capital Management LLC increased its position in shares of Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after buying an additional 219,692 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after acquiring an additional 359,005 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of research analyst reports. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Wells Fargo & Company lifted their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Loop Capital upped their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, TD Cowen upped their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Performance

Shares of MRVL opened at $87.65 on Friday. The company has a market cap of $75.84 billion, a PE ratio of -51.56, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The firm has a 50-day moving average of $112.03 and a 200-day moving average of $92.96. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % 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, CFO Willem A. Meintjes sold 1,500 shares of the company’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 completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Marvell Technology Company 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.