Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 428,375 shares of the semiconductor company’s stock after acquiring an additional 46,087 shares during the quarter. Marvell Technology comprises approximately 0.7% of Segall Bryant & Hamill LLC’s holdings, making the stock its 25th largest position. Segall Bryant & Hamill LLC’s holdings in Marvell Technology were worth $47,314,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. increased its stake in Marvell Technology by 2.5% during the third quarter. Great Valley Advisor Group Inc. now owns 6,480 shares of the semiconductor company’s stock worth $467,000 after acquiring an additional 156 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Marvell Technology by 84.3% during the 3rd quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company’s stock worth $4,401,000 after purchasing an additional 27,902 shares during the period. Summit Trail Advisors LLC increased its position in shares of Marvell Technology by 6.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,178 shares of the semiconductor company’s stock worth $446,000 after purchasing an additional 373 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Marvell Technology by 15.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 133,517 shares of the semiconductor company’s stock valued at $9,629,000 after buying an additional 17,415 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Marvell Technology by 2.6% in the third quarter. Fisher Asset Management LLC now owns 2,203,310 shares of the semiconductor company’s stock valued at $158,903,000 after buying an additional 56,606 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. This represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Up 3.4 %

Shares of NASDAQ:MRVL opened at $72.76 on Tuesday. The firm has a 50 day simple moving average of $98.21 and a 200-day simple moving average of $93.87. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. 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 company has a market capitalization of $63.01 billion, a PE ratio of -42.80, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analyst Ratings Changes

A number of brokerages have weighed in on MRVL. Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. UBS Group lifted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. TD Cowen lowered their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Melius started coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

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.