Grandview Asset Management LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Grandview Asset Management LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,629 shares of the semiconductor company’s stock, valued at approximately $2,720,000. Marvell Technology makes up about 1.0% of Grandview Asset Management LLC’s holdings, making the stock its 24th largest holding.

Other hedge funds also recently bought and sold shares of the company. Davidson Kempner Capital Management LP lifted its stake in shares of Marvell Technology by 26.5% during the 2nd 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 last quarter. Braun Stacey Associates Inc. bought a new position in Marvell Technology in the third quarter worth about $16,435,000. Charles Schwab Investment Management Inc. lifted its position 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 valued at $235,247,000 after buying an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings 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 valued at $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $1,476,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MRVL shares. The Goldman Sachs Group increased their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday. Citigroup raised their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Craig Hallum boosted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Oppenheimer lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Stock Performance

MRVL opened at $115.15 on Tuesday. The firm has a fifty day moving average price of $103.93 and a 200 day moving average price of $82.98. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15. The stock has a market cap of $99.64 billion, a P/E ratio of -67.73, a P/E/G ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insider Activity

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,500 shares of company stock worth $2,967,670 in the last ninety days. Company insiders own 0.33% of the company’s stock.

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.