SVB Wealth LLC Takes $460,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

SVB Wealth LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,164 shares of the semiconductor company’s stock, valued at approximately $460,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Temasek Holdings Private Ltd lifted its holdings in shares of Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after acquiring an additional 1,911,532 shares during the period. Holocene Advisors LP bought a new position in Marvell Technology during the third quarter worth about $120,116,000. Perpetual Ltd boosted its holdings in Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after purchasing an additional 682,457 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after purchasing an additional 571,005 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MRVL. JPMorgan Chase & Co. boosted their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital upped their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays reiterated an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Three equities research 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.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

MRVL stock opened at $88.33 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The business’s fifty day moving average is $111.07 and its 200-day moving average is $93.71. The company has a market cap of $76.43 billion, a P/E ratio of -51.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.27%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s 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 completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by company insiders.

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.