Savant Capital LLC Has $1.48 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Savant Capital LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,430 shares of the semiconductor company’s stock after purchasing an additional 959 shares during the quarter. Savant Capital LLC’s holdings in Marvell Technology were worth $1,483,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Zweig DiMenna Associates LLC boosted its holdings in shares of Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC boosted its stake in Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after buying an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. bought a new position in Marvell Technology in the third quarter valued at about $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders have sold 30,255 shares of company stock worth $3,692,880 in the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $103.50 on Friday. The company has a market cap of $89.56 billion, a P/E ratio of -60.88, a PEG ratio of 1.77 and a beta of 1.40. The company has a fifty day simple moving average of $114.27 and a 200 day simple moving average of $90.05. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Announces Dividend

The firm also recently announced 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. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Melius began coverage on shares of Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. The Goldman Sachs Group increased their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. TD Cowen boosted their price objective on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, KeyCorp increased their target price on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.