Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 193,389 shares of the semiconductor company’s stock after buying an additional 5,722 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marvell Technology were worth $21,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zweig DiMenna Associates LLC raised its holdings in shares of Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $637,000. RFG Advisory LLC raised its stake in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. acquired a new position in Marvell Technology during the 3rd quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Up 2.3 %

Marvell Technology stock opened at $67.16 on Wednesday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $58.11 billion, a price-to-earnings ratio of -39.51, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a 50 day moving average price of $107.36 and a 200 day moving average price of $93.97.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MRVL shares. Susquehanna lifted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Roth Capital set a $100.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, 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 report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology 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.