MONECO Advisors LLC Increases Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

MONECO Advisors LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,108 shares of the semiconductor company’s stock after purchasing an additional 155 shares during the quarter. MONECO Advisors LLC’s holdings in Marvell Technology were worth $454,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MRVL. Swedbank AB grew its holdings in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the period. International Assets Investment Management LLC boosted its stake in Marvell Technology by 7,142.2% during the third quarter. International Assets Investment Management LLC now owns 239,934 shares of the semiconductor company’s stock worth $17,304,000 after buying an additional 236,621 shares during the period. Hennion & Walsh Asset Management Inc. boosted its stake in Marvell Technology by 7.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,377 shares of the semiconductor company’s stock worth $893,000 after buying an additional 816 shares during the period. Dakota Wealth Management boosted its stake in Marvell Technology by 2.8% during the third quarter. Dakota Wealth Management now owns 12,646 shares of the semiconductor company’s stock worth $912,000 after buying an additional 343 shares during the period. Finally, NorthCrest Asset Manangement LLC boosted its stake in Marvell Technology by 5.0% during the third quarter. NorthCrest Asset Manangement LLC now owns 12,818 shares of the semiconductor company’s stock worth $924,000 after buying an additional 606 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. B. Riley increased their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Trading Down 5.7 %

NASDAQ MRVL opened at $97.91 on Tuesday. 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 52 week low of $53.19 and a 52 week high of $127.48. The stock has a market capitalization of $84.72 billion, a PE ratio of -57.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The firm has a 50 day moving average of $113.05 and a two-hundred day moving average of $92.76.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. Marvell Technology’s dividend payout ratio is presently -14.12%.

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.