2,398 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Hudock Inc.

Hudock Inc. purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,398 shares of the semiconductor company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Hemington Wealth Management increased its stake in Marvell Technology by 122.0% during the fourth quarter. Hemington Wealth Management now owns 768 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 422 shares during the last quarter. Marks Group Wealth Management Inc acquired a new position in shares of Marvell Technology during the fourth quarter valued at $288,000. Gladstone Institutional Advisory LLC boosted its holdings in shares of Marvell Technology by 1.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 18,844 shares of the semiconductor company’s stock valued at $2,081,000 after acquiring an additional 195 shares during the period. Schear Investment Advisers LLC lifted its holdings in Marvell Technology by 5.6% in the fourth quarter. Schear Investment Advisers LLC now owns 28,027 shares of the semiconductor company’s stock worth $3,096,000 after purchasing an additional 1,495 shares during the period. Finally, Warther Private Wealth LLC acquired a new stake in Marvell Technology in the fourth quarter worth about $229,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. The Goldman Sachs Group boosted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley cut their price objective on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Three equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 3.4 %

Shares of NASDAQ MRVL opened at $105.42 on Thursday. The business has a 50 day simple moving average of $114.27 and a 200 day simple moving average of $90.05. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors 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 0.23%. Marvell Technology’s payout ratio is -14.12%.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by corporate insiders.

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.