Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by IFP Advisors Inc

IFP Advisors Inc raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,315 shares of the semiconductor company’s stock after buying an additional 801 shares during the quarter. IFP Advisors Inc’s holdings in Marvell Technology were worth $697,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MRVL. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the 4th quarter valued at about $26,000. ORG Partners LLC boosted its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Financial Life Planners acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, GHP Investment Advisors Inc. lifted its position in Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 7.6 %

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

Marvell Technology Dividend Announcement

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

Insiders Place Their Bets

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was 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. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Loop Capital lifted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Craig Hallum raised their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.