HighPoint Advisor Group LLC Acquires 2,160 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

HighPoint Advisor Group LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 40.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,531 shares of the semiconductor company’s stock after purchasing an additional 2,160 shares during the period. HighPoint Advisor Group LLC’s holdings in Marvell Technology were worth $824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MRVL. 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 acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new position in Marvell Technology during the 4th quarter valued at $637,000. RFG Advisory LLC raised its holdings in Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after purchasing an additional 535,203 shares during the period. Finally, Franchise Capital Ltd bought a new stake in shares of Marvell Technology during the 4th quarter valued at about $1,476,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 1.8 %

Shares of MRVL opened at $62.67 on Wednesday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock has a market capitalization of $54.28 billion, a PE ratio of -36.86, a P/E/G ratio of 1.61 and a beta of 1.42. The company’s fifty day moving average is $91.56 and its 200 day moving average is $93.58. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,685 shares of company stock valued at $4,026,768. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRVL. Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Cantor Fitzgerald raised their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Barclays dropped their price target on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. KeyCorp decreased their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology 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.