Dorsey & Whitney Trust CO LLC Acquires 720 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Dorsey & Whitney Trust CO LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,646 shares of the semiconductor company’s stock after purchasing an additional 720 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Marvell Technology were worth $2,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MRVL. Zweig DiMenna Associates LLC grew its stake in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the period. Berbice Capital Management LLC bought a new position in shares of Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC grew its stake in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares during the period. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology during the 3rd quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $70.84 on Friday. The stock has a market cap of $61.30 billion, a price-to-earnings ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The stock’s 50-day moving average is $108.27 and its 200 day moving average is $93.84.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is -23.53%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of several research reports. UBS Group increased their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley cut their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday. Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Melius initiated coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Finally, Citigroup cut their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.68.

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.