2,423 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Sara Bay Financial

Sara Bay Financial bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,423 shares of the semiconductor company’s stock, valued at approximately $271,000.

A number of other hedge funds have also bought and sold shares of MRVL. Ameriprise Financial Inc. raised its position in Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Temasek Holdings Private Ltd raised its position in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP purchased a new position in Marvell Technology in the 3rd quarter worth about $120,116,000. Van ECK Associates Corp raised its position in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in Marvell Technology in the 2nd quarter worth about $108,204,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MRVL. Barclays upped their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday. Loop Capital upped their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Citigroup upped their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp upped their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.08.

Marvell Technology Trading Up 6.1 %

Shares of NASDAQ:MRVL traded up $7.18 on Friday, hitting $124.76. 14,849,059 shares of the company’s stock were exchanged, compared to its average volume of 13,008,617. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The stock has a market capitalization of $107.95 billion, a price-to-earnings ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. The business’s 50 day simple moving average is $106.70 and its two-hundred day simple moving average is $84.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock worth $4,099,650. 0.33% of the stock is currently owned by insiders.

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.