Cornerstone Wealth Management LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Cornerstone Wealth Management LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,348 shares of the semiconductor company’s stock, valued at approximately $370,000.

A number of other large investors also recently modified their holdings of the company. AQR Capital Management LLC grew its position in Marvell Technology by 597.5% during the second quarter. AQR Capital Management LLC now owns 437,771 shares of the semiconductor company’s stock valued at $30,600,000 after acquiring an additional 375,012 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Marvell Technology by 18.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,053,967 shares of the semiconductor company’s stock valued at $73,672,000 after purchasing an additional 164,250 shares during the last quarter. Mackenzie Financial Corp raised its position in Marvell Technology by 30.8% in the 2nd quarter. Mackenzie Financial Corp now owns 73,644 shares of the semiconductor company’s stock worth $5,148,000 after purchasing an additional 17,342 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Marvell Technology in the 2nd quarter worth $512,000. Finally, MidWestOne Financial Group Inc. lifted its stake in Marvell Technology by 90.5% in the second quarter. MidWestOne Financial Group Inc. now owns 15,264 shares of the semiconductor company’s stock worth $1,067,000 after purchasing an additional 7,251 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was 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 directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Down 1.6 %

NASDAQ:MRVL opened at $124.02 on Monday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a market capitalization of $107.31 billion, a PE ratio of -72.95, a P/E/G ratio of 4.12 and a beta of 1.41. The firm’s 50-day moving average price is $110.11 and its 200-day moving average price is $86.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MRVL shares. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. B. Riley upped their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Benchmark reissued a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.38.

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.