546 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 546 shares of the semiconductor company’s stock, valued at approximately $60,000.

Several other hedge funds also recently modified their holdings of MRVL. Swedbank AB increased its holdings in shares of Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after buying an additional 23,680 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Marvell Technology by 1.5% during the third quarter. PNC Financial Services Group Inc. now owns 71,783 shares of the semiconductor company’s stock worth $5,177,000 after buying an additional 1,062 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Marvell Technology by 26.2% during the third quarter. Avior Wealth Management LLC now owns 1,363 shares of the semiconductor company’s stock worth $98,000 after buying an additional 283 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after buying an additional 116 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Marvell Technology by 2.1% during 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 buying an additional 66,654 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Down 0.1 %

Shares of NASDAQ:MRVL opened at $70.39 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. 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 company’s fifty day simple moving average is $99.06 and its 200 day simple moving average is $93.69. The firm has a market cap of $60.96 billion, a price-to-earnings ratio of -41.41, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s payout ratio is -23.53%.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock worth $4,026,768 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MRVL. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Bank of America lowered their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC lowered their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, B. Riley raised 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. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $120.44.

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.