West Family Investments Inc. Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

West Family Investments Inc. bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,749 shares of the semiconductor company’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Zweig DiMenna Associates LLC grew its holdings in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $637,000. RFG Advisory LLC grew its stake in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology in the third quarter valued at approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its position in 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 worth $235,247,000 after purchasing an additional 66,654 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MRVL has been the topic of several recent research reports. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Morgan Stanley dropped their price objective on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday. Wells Fargo & Company increased their target price on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Susquehanna boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research report on Thursday. Three research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $70.84 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market cap of $61.30 billion, a price-to-earnings ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The stock’s 50-day moving average is $109.13 and its 200-day moving average is $93.67.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders 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 yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) 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.