Norden Group LLC Purchases 212 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Norden Group LLC grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,095 shares of the semiconductor company’s stock after purchasing an additional 212 shares during the period. Norden Group LLC’s holdings in Marvell Technology were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in shares of Marvell Technology by 52.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,599 shares of the semiconductor company’s stock valued at $402,000 after purchasing an additional 1,233 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $291,000. Metis Global Partners LLC boosted its stake in shares of Marvell Technology by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 30,774 shares of the semiconductor company’s stock valued at $3,399,000 after purchasing an additional 327 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in shares of Marvell Technology by 7.9% in the 4th quarter. Xcel Wealth Management LLC now owns 4,100 shares of the semiconductor company’s stock valued at $453,000 after purchasing an additional 300 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $302,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Evercore ISI lifted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. UBS Group lifted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities lifted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three 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’s stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $85.83 on Tuesday. The company has a fifty day moving average of $111.63 and a 200-day moving average of $93.59. The firm has a market capitalization of $74.27 billion, a P/E ratio of -50.49, a P/E/G ratio of 1.61 and a beta of 1.40. 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 twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

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.