Q3 Asset Management Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Q3 Asset Management bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,075 shares of the semiconductor company’s stock, valued at approximately $560,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. raised its position in Marvell Technology by 6.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 26,190 shares of the semiconductor company’s stock valued at $2,893,000 after purchasing an additional 1,678 shares during the last quarter. Costello Asset Management INC lifted its position in shares of Marvell Technology by 0.9% during the fourth quarter. Costello Asset Management INC now owns 33,848 shares of the semiconductor company’s stock worth $3,739,000 after purchasing an additional 297 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of Marvell Technology by 13.0% during the fourth quarter. Independence Bank of Kentucky now owns 1,300 shares of the semiconductor company’s stock valued at $144,000 after purchasing an additional 150 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $287,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Marvell Technology by 160.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 28,597 shares of the semiconductor company’s stock worth $3,159,000 after buying an additional 17,610 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock valued at $4,361,430 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. TD Cowen upped their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. KeyCorp lifted their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, B. Riley increased their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Up 2.3 %

Shares of NASDAQ:MRVL opened at $112.86 on Friday. The stock has a market capitalization of $97.66 billion, a P/E ratio of -66.39, a price-to-earnings-growth ratio of 3.51 and a beta of 1.41. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $111.72 and its 200-day moving average price is $87.51.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.