2,613 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Hill Island Financial LLC

Hill Island Financial LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,613 shares of the semiconductor company’s stock, valued at approximately $289,000.

Other large investors have also recently made changes to their positions in the company. Zweig DiMenna Associates LLC increased its stake in shares of Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $637,000. RFG Advisory LLC increased its stake in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after buying an additional 2,507 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 0.1 %

Marvell Technology stock opened at $70.39 on Friday. The stock has a market cap of $60.96 billion, a PE ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. The stock has a 50-day moving average price of $99.06 and a 200 day moving average price of $93.69. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s payout ratio is -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad W. Buss purchased 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Cantor Fitzgerald increased their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Craig Hallum increased their price target 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. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Bank of America dropped their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

About Marvell Technology

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.