E&G Advisors LP Invests $232,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

E&G Advisors LP purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,100 shares of the semiconductor company’s stock, valued at approximately $232,000.

Other large investors have also recently made changes to their positions in the company. Zweig DiMenna Associates LLC lifted its stake in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth $637,000. RFG Advisory LLC lifted its position in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares during the period. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology in the third quarter valued at approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $235,247,000 after acquiring an additional 66,654 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus boosted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Loop Capital lifted their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Needham & Company LLC upped their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Up 0.6 %

Shares of Marvell Technology stock opened at $113.56 on Tuesday. The company’s fifty day moving average is $112.15 and its two-hundred day moving average is $87.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market capitalization of $98.26 billion, a P/E ratio of -66.80, a PEG ratio of 3.71 and a beta of 1.40. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,361,430 over the last 90 days. Company insiders own 0.33% of the company’s stock.

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.