J.Safra Asset Management Corp Buys 1,379 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

J.Safra Asset Management Corp boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 69.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,366 shares of the semiconductor company’s stock after purchasing an additional 1,379 shares during the quarter. J.Safra Asset Management Corp’s holdings in Marvell Technology were worth $376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. 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 purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after acquiring an additional 96 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 97 shares in the last quarter. Waldron Private Wealth LLC grew its stake in Marvell Technology by 3.6% in the fourth 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. Finally, Tsfg LLC grew its stake in Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 2.9 %

Shares of MRVL stock opened at $88.33 on Wednesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $76.43 billion, a P/E ratio of -51.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The stock has a 50 day simple moving average of $111.07 and a 200 day simple moving average of $93.71. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Marvell Technology’s payout ratio is -14.12%.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction dated 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. In the last three months, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MRVL shares. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Loop Capital lifted their price objective 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. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.