FineMark National Bank & Trust Purchases Shares of 107,096 Marvell Technology, Inc. (NASDAQ:MRVL)

FineMark National Bank & Trust purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 107,096 shares of the semiconductor company’s stock, valued at approximately $11,829,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Great Valley Advisor Group Inc. raised its position in shares of Marvell Technology by 2.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 6,480 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 156 shares in the last quarter. Cerity Partners LLC raised its position in shares of Marvell Technology by 84.3% during the 3rd quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company’s stock valued at $4,401,000 after acquiring an additional 27,902 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Marvell Technology by 6.4% during the third quarter. Summit Trail Advisors LLC now owns 6,178 shares of the semiconductor company’s stock worth $446,000 after purchasing an additional 373 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Marvell Technology by 15.0% during the third quarter. Daiwa Securities Group Inc. now owns 133,517 shares of the semiconductor company’s stock valued at $9,629,000 after purchasing an additional 17,415 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Marvell Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,203,310 shares of the semiconductor company’s stock worth $158,903,000 after purchasing an additional 56,606 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,685 shares of company stock worth $4,026,768. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MRVL. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Morgan Stanley dropped their target price on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC cut their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Thursday, March 6th. Three research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Up 3.4 %

MRVL stock opened at $72.76 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $63.01 billion, a price-to-earnings ratio of -42.80, a P/E/G ratio of 1.61 and a beta of 1.42. The business has a fifty day moving average price of $98.21 and a 200 day moving average price of $93.87. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.33%. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

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.