Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,037 shares of the semiconductor company’s stock after buying an additional 343 shares during the quarter. First Horizon Advisors Inc.’s holdings in Marvell Technology were worth $225,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Lodestone Wealth Management LLC grew its position in Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after acquiring an additional 93 shares in the last quarter. Valley National Advisers Inc. boosted its stake in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares during the period. Waldron Private Wealth LLC grew its holdings in Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 103 shares in the last quarter. Tsfg LLC increased its stake in Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after buying an additional 111 shares during the period. Finally, GHP Investment Advisors Inc. lifted its holdings in Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MRVL. KeyCorp raised their target price on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities raised their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Bank of America upped their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark reissued a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Needham & Company LLC lifted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three equities research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $93.00 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $80.47 billion, a PE ratio of -54.71, a P/E/G ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The business’s fifty day moving average price is $112.66 and its two-hundred day moving average price is $92.99.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.26%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Company insiders own 0.33% of the company’s stock.

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.