Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Smith Moore & CO.

Smith Moore & CO. grew its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,942 shares of the semiconductor company’s stock after purchasing an additional 486 shares during the period. Smith Moore & CO.’s holdings in Marvell Technology were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Marvell Technology by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares during the period. Geode Capital Management LLC increased its holdings in Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after purchasing an additional 80,005 shares during the last quarter. Norges Bank purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $1,138,354,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock worth $838,617,000 after purchasing an additional 1,691,242 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

Shares of MRVL opened at $49.43 on Friday. 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 52-week low of $47.31 and a 52-week high of $127.48. The company has a 50-day simple moving average of $87.42 and a 200-day simple moving average of $93.08. The company has a market capitalization of $42.81 billion, a PE ratio of -29.08, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Transactions at Marvell Technology

In other news, Director Brad W. Buss purchased 3,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares in the company, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,185 shares of company stock valued at $3,744,268 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MRVL has been the subject of a number of research reports. Stifel Nicolaus dropped their price objective on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Barclays cut their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.44.

About Marvell Technology

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.