1,850 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Advance Capital Management Inc.

Advance Capital Management Inc. purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,850 shares of the semiconductor company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Davidson Kempner Capital Management LP lifted its stake in Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after purchasing an additional 52,365 shares during the period. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology during the 3rd quarter worth approximately $16,435,000. Charles Schwab Investment Management Inc. grew its position in 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 valued at $235,247,000 after acquiring an additional 66,654 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after acquiring an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd bought a new position in shares of Marvell Technology during the fourth quarter valued at $1,476,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Up 0.7 %

MRVL stock traded up $0.83 during trading hours on Monday, reaching $119.01. 15,184,665 shares of the stock were exchanged, compared to its average volume of 10,675,264. 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 company has a market cap of $102.98 billion, a price-to-earnings ratio of -70.01, a PEG ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The firm’s 50-day moving average is $100.53 and its 200-day moving average is $81.32.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.20%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,500 shares of company stock worth $14,267,670 in the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MRVL. Piper Sandler reiterated an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Cantor Fitzgerald increased their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Evercore ISI upped their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.64.

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.