Howe & Rusling Inc. Purchases 427 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Howe & Rusling Inc. grew its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 14.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,362 shares of the semiconductor company’s stock after purchasing an additional 427 shares during the period. Howe & Rusling Inc.’s holdings in Marvell Technology were worth $371,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zweig DiMenna Associates LLC lifted its position in Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth $637,000. RFG Advisory LLC lifted its holdings in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Marvell Technology by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after acquiring an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd bought a new position in Marvell Technology in the fourth quarter valued at $1,476,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 2.8 %

MRVL opened at $64.86 on Friday. 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, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock has a market cap of $56.17 billion, a PE ratio of -38.15, a PEG ratio of 1.61 and a beta of 1.42. The business has a 50 day moving average of $95.30 and a 200-day moving average of $93.52.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. 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 can be accessed through this link. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were 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. Insiders have sold 37,685 shares of company stock valued at $4,026,768 in the last three months. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. KeyCorp cut their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Susquehanna increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. B. Riley increased their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.44.

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.