8,513 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Denali Advisors LLC

Denali Advisors LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,513 shares of the semiconductor company’s stock, valued at approximately $940,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC acquired a new stake in shares of Marvell Technology during the 4th quarter valued at $328,000. FFT Wealth Management LLC increased its holdings in Marvell Technology by 77.1% in the 4th quarter. FFT Wealth Management LLC now owns 5,704 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 2,483 shares in the last quarter. Sterling Investment Advisors Ltd. bought a new position in Marvell Technology in the fourth quarter valued at about $267,000. Los Angeles Capital Management LLC grew its holdings in shares of Marvell Technology by 110.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 9,928 shares of the semiconductor company’s stock worth $1,097,000 after purchasing an additional 5,208 shares during the last quarter. Finally, Avalon Capital Management increased its stake in shares of Marvell Technology by 0.5% in the fourth quarter. Avalon Capital Management now owns 56,601 shares of the semiconductor company’s stock valued at $6,252,000 after buying an additional 285 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of several recent research reports. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a report on Friday, February 14th. Rosenblatt Securities raised their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI upped their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Up 2.0 %

Shares of NASDAQ MRVL opened at $94.90 on Thursday. 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 company has a 50-day moving average price of $112.46 and a 200-day moving average price of $93.00. The stock has a market capitalization of $82.12 billion, a P/E ratio of -55.82, 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.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.