Cobblestone Capital Advisors LLC NY Buys Shares of 2,737 Marvell Technology, Inc. (NASDAQ:MRVL)

Cobblestone Capital Advisors LLC NY purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,737 shares of the semiconductor company’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SVB Wealth LLC purchased a new position in Marvell Technology in the fourth quarter valued at $460,000. Flputnam Investment Management Co. acquired a new stake in Marvell Technology in the 4th quarter valued at about $288,000. Waterway Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at about $204,000. Private Trust Co. NA grew its position in shares of Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Marvell Technology by 57.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,495 shares of the semiconductor company’s stock worth $165,000 after buying an additional 548 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MRVL. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Rosenblatt Securities raised their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Susquehanna boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald raised their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Loop Capital lifted their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $91.82 on Friday. The firm has a market cap of $79.45 billion, a P/E ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The business’s 50-day moving average price is $111.63 and its 200 day moving average price is $93.39. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

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.