Prudent Investors Network Inc. Invests $248,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Prudent Investors Network Inc. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 2,247 shares of the semiconductor company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRVL. Quarry LP purchased a new stake in shares of Marvell Technology during the 2nd quarter worth $32,000. Sanctuary Advisors LLC purchased a new stake in Marvell Technology in the second quarter valued at about $3,665,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Marvell Technology by 2,591.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,339 shares of the semiconductor company’s stock valued at $5,616,000 after buying an additional 77,354 shares during the last quarter. Park Avenue Securities LLC raised its stake in Marvell Technology by 8.6% in the third quarter. Park Avenue Securities LLC now owns 48,073 shares of the semiconductor company’s stock valued at $3,467,000 after buying an additional 3,789 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Marvell Technology by 1.3% in the third quarter. Handelsbanken Fonder AB now owns 303,119 shares of the semiconductor company’s stock valued at $21,861,000 after buying an additional 3,930 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology 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 sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $4,361,430 over the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 2.3 %

Shares of NASDAQ:MRVL opened at $112.86 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average price is $111.72 and its 200-day moving average price is $87.65. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays increased their price target on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Oppenheimer increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. The Goldman Sachs Group raised their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Citigroup raised their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

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.