Brown Brothers Harriman & Co. Purchases 404 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Brown Brothers Harriman & Co. raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 182.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 626 shares of the semiconductor company’s stock after buying an additional 404 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Marvell Technology were worth $69,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MRVL. DnB Asset Management AS increased its position in Marvell Technology by 5.1% during the fourth quarter. DnB Asset Management AS now owns 159,027 shares of the semiconductor company’s stock worth $17,565,000 after acquiring an additional 7,770 shares during the period. Level Four Advisory Services LLC increased its holdings in shares of Marvell Technology by 51.9% during the fourth quarter. Level Four Advisory Services LLC now owns 7,171 shares of the semiconductor company’s stock worth $792,000 after purchasing an additional 2,450 shares during the period. Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $46,389,000. Norges Bank bought a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $1,138,354,000. Finally, Howe & Rusling Inc. grew its position in Marvell Technology by 14.5% during the fourth quarter. Howe & Rusling Inc. now owns 3,362 shares of the semiconductor company’s stock worth $371,000 after buying an additional 427 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. UBS Group increased their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark restated a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. B. Riley increased their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Melius assumed coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,685 shares of company stock worth $4,026,768. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 1.8 %

Shares of MRVL stock opened at $62.67 on Wednesday. The stock has a 50-day moving average of $91.56 and a 200-day moving average of $93.58. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $54.28 billion, a price-to-earnings ratio of -36.86, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology’s payout ratio is -23.53%.

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.