Park Avenue Securities LLC Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Park Avenue Securities LLC lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,777 shares of the semiconductor company’s stock after purchasing an additional 10,704 shares during the quarter. Park Avenue Securities LLC’s holdings in Marvell Technology were worth $6,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 buying an additional 326 shares during the period. ORG Partners LLC boosted its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP acquired a new stake in Marvell Technology in the 2nd quarter valued at approximately $32,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Trading Up 0.7 %

NASDAQ MRVL opened at $116.00 on Thursday. The firm’s fifty day moving average price is $105.61 and its 200 day moving average price is $83.85. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $100.37 billion, a price-to-earnings ratio of -68.23, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued 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 is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MRVL shares. Cantor Fitzgerald lifted their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Susquehanna boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Craig Hallum raised their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Evercore ISI lifted their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Finally, Wells Fargo & Company increased their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.68.

Insider Activity

In other news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. The trade was a 13.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 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 $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,500 shares of company stock valued at $2,967,670. Insiders own 0.33% of the company’s stock.

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.