Aaron Wealth Advisors LLC Purchases Shares of 2,916 Marvell Technology, Inc. (NASDAQ:MRVL)

Aaron Wealth Advisors LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,916 shares of the semiconductor company’s stock, valued at approximately $322,000.

Several other institutional investors have also recently made changes to their positions in the company. Davidson Kempner Capital Management LP grew its position in Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after buying an additional 52,365 shares during the period. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology during the 3rd quarter valued at about $16,435,000. Charles Schwab Investment Management Inc. increased its stake in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in 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 purchasing an additional 535,203 shares during the period. Finally, Franchise Capital Ltd purchased a new position in Marvell Technology during the fourth quarter worth approximately $1,476,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 6.1 %

MRVL stock opened at $124.76 on Tuesday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. The firm has a market cap of $107.95 billion, a PE ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. The firm’s 50 day moving average price is $107.35 and its 200-day moving average price is $85.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MRVL shares. Rosenblatt Securities upped their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp raised their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.96.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,755 shares of company stock valued at $3,615,030. 0.33% of the stock is currently owned by 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.