Sanctuary Advisors LLC Has $5.41 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Sanctuary Advisors LLC increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 42.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,027 shares of the semiconductor company’s stock after acquiring an additional 22,382 shares during the quarter. Sanctuary Advisors LLC’s holdings in Marvell Technology were worth $5,411,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its stake in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter valued at $32,000. Whittier Trust Co. grew its position in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the period. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $37,000. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

MRVL has been the subject of several recent research reports. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Craig Hallum upped their price target on shares of Marvell Technology from $88.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Rosenblatt Securities upped their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI raised their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $119.04.

Marvell Technology Trading Up 10.8 %

NASDAQ MRVL opened at $120.77 on Monday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $121.86. The firm has a market capitalization of $104.50 billion, a PE ratio of -71.04, a P/E/G ratio of 3.72 and a beta of 1.46. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $89.98 and its 200 day moving average is $76.82.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the completion of the sale, the executive vice president now owns 22,494 shares of the company’s stock, valued at $1,593,250.02. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,500 shares of company stock valued at $13,525,995. 0.33% of the stock is currently owned by corporate insiders.

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.