Goodman Advisory Group LLC Invests $37,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Goodman Advisory Group LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 515 shares of the semiconductor company’s stock, valued at approximately $37,000.

Several other large investors have also modified their holdings of the stock. Ameriprise Financial Inc. increased its holdings in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Swedbank AB increased its stake in Marvell Technology by 653.5% during the second quarter. Swedbank AB now owns 2,334,015 shares of the semiconductor company’s stock worth $163,148,000 after acquiring an additional 2,024,269 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in shares of Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares during the period. Holocene Advisors LP acquired a new position in shares of Marvell Technology in the 3rd quarter valued at about $120,116,000. Finally, Van ECK Associates Corp grew its holdings in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This trade represents a 17.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,000 shares of company stock worth $20,899,260 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $107.03 on Tuesday. The stock has a 50 day simple moving average of $86.79 and a 200-day simple moving average of $75.83. 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 company has a market cap of $92.61 billion, a PE ratio of -62.96, a P/E/G ratio of 3.79 and a beta of 1.46. Marvell Technology, Inc. has a 12-month low of $52.89 and a 12-month high of $119.88.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Friday, October 11th. Marvell Technology’s payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MRVL. Craig Hallum raised their price target on shares of Marvell Technology from $88.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Roth Mkm reaffirmed a “buy” rating and issued a $95.00 target price on shares of Marvell Technology in a research report on Friday, August 30th. Wells Fargo & Company raised their target price on Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays raised their price target on shares of Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC raised their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $119.04.

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.