McHugh Group LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

McHugh Group LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,125 shares of the semiconductor company’s stock, valued at approximately $345,000.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Marvell Technology by 13.7% during the 3rd quarter. GAMMA Investing LLC now owns 7,333 shares of the semiconductor company’s stock valued at $529,000 after acquiring an additional 882 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in Marvell Technology by 9.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock valued at $359,000 after acquiring an additional 418 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Marvell Technology by 34.7% during the third quarter. Atomi Financial Group Inc. now owns 17,966 shares of the semiconductor company’s stock worth $1,296,000 after acquiring an additional 4,626 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Marvell Technology in the third quarter worth $216,000. Finally, Eagle Wealth Strategies LLC purchased a new position in shares of Marvell Technology in the third quarter valued at $380,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Up 6.2 %

Shares of NASDAQ:MRVL opened at $116.46 on Thursday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The stock has a market capitalization of $100.77 billion, a price-to-earnings ratio of -68.51, a PEG ratio of 3.71 and a beta of 1.40. The stock has a fifty day simple moving average of $113.00 and a two-hundred day simple moving average of $88.47. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on MRVL. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Barclays upped their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. TD Cowen lifted their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three investment 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 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 $534,840.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock valued at $4,361,430. Insiders own 0.33% of the company’s stock.

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.