LaSalle St. Investment Advisors LLC Buys New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

LaSalle St. Investment Advisors LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,052 shares of the semiconductor company’s stock, valued at approximately $226,000.

Several other institutional investors have also recently added to or reduced their stakes in MRVL. Norges Bank acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $1,138,354,000. GQG Partners LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $802,410,000. Wellington Management Group LLP grew its stake in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after buying an additional 3,747,982 shares during the period. Invesco Ltd. grew its stake in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth approximately $366,896,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL stock opened at $52.26 on Tuesday. The firm has a 50 day simple moving average of $78.58 and a two-hundred day simple moving average of $92.05. 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 stock has a market cap of $45.26 billion, a PE ratio of -30.74, a P/E/G ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,185 shares of company stock worth $3,131,018 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRVL. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Morgan Stanley decreased their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. TD Cowen cut their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.48.

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.