Level Four Advisory Services LLC Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Level Four Advisory Services LLC grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 51.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,171 shares of the semiconductor company’s stock after purchasing an additional 2,450 shares during the period. Level Four Advisory Services LLC’s holdings in Marvell Technology were worth $792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MRVL. Zweig DiMenna Associates LLC lifted its position in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $637,000. RFG Advisory LLC raised its position in Marvell Technology by 6.2% in 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 period. Nomura Asset Management Co. Ltd. lifted its stake in Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after purchasing an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new position in shares of Marvell Technology during the fourth quarter worth $1,476,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Mark Casper sold 7,755 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MRVL shares. Stifel Nicolaus lowered their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. KeyCorp dropped their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Stock Down 4.3 %

MRVL opened at $62.04 on Monday. 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 quick ratio of 1.11 and a current ratio of 1.60. The stock has a market capitalization of $53.73 billion, a P/E ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The business’s 50-day simple moving average is $94.05 and its 200-day simple moving average is $93.75.

Marvell Technology Dividend Announcement

The company 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

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.