First Pacific Financial Has $1.42 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

First Pacific Financial lessened its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,868 shares of the semiconductor company’s stock after selling 585 shares during the quarter. First Pacific Financial’s holdings in Marvell Technology were worth $1,421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in shares of Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares during the period. Temasek Holdings Private Ltd raised its stake in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology in the 3rd quarter valued at $120,116,000. Van ECK Associates Corp boosted its holdings in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. Finally, D1 Capital Partners L.P. acquired a new stake in Marvell Technology in the 2nd quarter worth $108,204,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 1.4 %

MRVL stock opened at $117.58 on Friday. The business has a fifty day moving average price of $106.09 and a 200 day moving average price of $84.09. 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, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The stock has a market capitalization of $101.74 billion, a price-to-earnings ratio of -69.16, a P/E/G ratio of 3.76 and a beta of 1.41.

Marvell Technology Announces Dividend

The firm 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 $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,500 shares of company stock valued at $2,967,670 over the last ninety days. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on MRVL shares. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Bank of America boosted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Susquehanna raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald lifted their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Benchmark restated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.08.

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.