First Bank & Trust Increases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

First Bank & Trust boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,774 shares of the semiconductor company’s stock after purchasing an additional 4,050 shares during the quarter. First Bank & Trust’s holdings in Marvell Technology were worth $2,626,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ORG Partners LLC grew its stake 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 valued at $26,000 after buying an additional 149 shares during the period. Kieckhefer Group LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $33,000. Financial Life Planners acquired a new stake in Marvell Technology during the fourth quarter worth about $33,000. GHP Investment Advisors Inc. raised its holdings in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 112 shares during the period. Finally, True Wealth Design LLC lifted its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

NASDAQ MRVL opened at $111.04 on Thursday. 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, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a 50-day simple moving average of $113.93 and a 200-day simple moving average of $91.57.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s payout ratio is currently -14.12%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MRVL. Benchmark restated a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. KeyCorp lifted their target price on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their price objective on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. 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 stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.