Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Smith Moore & CO.

Smith Moore & CO. boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,942 shares of the semiconductor company’s stock after buying an additional 486 shares during the period. Smith Moore & CO.’s holdings in Marvell Technology were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRVL. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the fourth quarter valued at $33,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 11.2 %

MRVL opened at $49.43 on Friday. The company has a market cap of $42.81 billion, a PE ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a twelve month low of $47.31 and a twelve month high of $127.48. The company has a 50-day moving average price of $87.42 and a 200 day moving average price of $93.08. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss acquired 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,185 shares of company stock valued at $3,744,268 over the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MRVL shares. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Stifel Nicolaus decreased their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Barclays cut their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.