Howard Financial Services LTD. Makes New $473,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Howard Financial Services LTD. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,282 shares of the semiconductor company’s stock, valued at approximately $473,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. Arthur M. Cohen & Associates LLC grew its holdings in Marvell Technology by 2.0% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 35,193 shares of the semiconductor company’s stock worth $3,887,000 after acquiring an additional 703 shares during the last quarter. Brooklyn Investment Group increased its holdings in Marvell Technology by 9.9% in the fourth quarter. Brooklyn Investment Group now owns 4,751 shares of the semiconductor company’s stock valued at $525,000 after purchasing an additional 428 shares during the period. Sax Wealth Advisors LLC raised its position in Marvell Technology by 4.5% during the 4th quarter. Sax Wealth Advisors LLC now owns 11,644 shares of the semiconductor company’s stock worth $1,286,000 after purchasing an additional 504 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Marvell Technology by 57.5% during the 4th quarter. Merit Financial Group LLC now owns 9,432 shares of the semiconductor company’s stock worth $1,042,000 after buying an additional 3,443 shares during the period. Finally, Avanza Fonder AB acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $8,076,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday. Cantor Fitzgerald upped their price objective 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. TD Cowen increased their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America boosted their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $123.08.

Marvell Technology Stock Performance

MRVL stock opened at $124.76 on Friday. The stock’s 50 day moving average is $106.70 and its 200-day moving average is $84.46. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,099,650 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

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.