SYM FINANCIAL Corp Invests $263,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

SYM FINANCIAL Corp purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, Holdings Channel reports. The firm purchased 2,381 shares of the semiconductor company’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MRVL. Quarry LP purchased a new stake in Marvell Technology during the 2nd quarter worth $32,000. Sanctuary Advisors LLC bought a new stake in Marvell Technology during the second quarter valued at $3,665,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Marvell Technology by 2,591.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,339 shares of the semiconductor company’s stock worth $5,616,000 after acquiring an additional 77,354 shares during the last quarter. Park Avenue Securities LLC boosted its position in Marvell Technology by 8.6% during the 3rd quarter. Park Avenue Securities LLC now owns 48,073 shares of the semiconductor company’s stock valued at $3,467,000 after purchasing an additional 3,789 shares during the period. Finally, Handelsbanken Fonder AB grew its position in shares of Marvell Technology by 1.3% during the third quarter. Handelsbanken Fonder AB now owns 303,119 shares of the semiconductor company’s stock worth $21,861,000 after acquiring an additional 3,930 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Up 2.3 %

MRVL stock opened at $112.86 on Monday. The company has a market cap of $97.66 billion, a P/E ratio of -66.39, a PEG ratio of 3.51 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The business has a fifty day moving average of $111.72 and a 200-day moving average of $87.65.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given 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 of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated 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 directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MRVL shares. Melius Research raised Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Barclays increased their target price on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley reduced their target price on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Citigroup raised their price target on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

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.