Marvell Technology, Inc. (NASDAQ:MRVL) Stake Boosted by L & S Advisors Inc

L & S Advisors Inc raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 270.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,797 shares of the semiconductor company’s stock after buying an additional 40,021 shares during the quarter. L & S Advisors Inc’s holdings in Marvell Technology were worth $6,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MV Capital Management Inc. boosted its position in shares of Marvell Technology by 19.3% in the fourth quarter. MV Capital Management Inc. now owns 835 shares of the semiconductor company’s stock worth $92,000 after buying an additional 135 shares during the period. Allianz SE acquired a new stake in Marvell Technology during the 4th quarter worth about $11,720,000. Allstate Corp purchased a new position in Marvell Technology during the 4th quarter valued at about $2,540,000. Brown Brothers Harriman & Co. increased its holdings in shares of Marvell Technology by 182.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 626 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 404 shares during the period. Finally, DnB Asset Management AS lifted its position in shares of Marvell Technology by 5.1% in the fourth quarter. DnB Asset Management AS now owns 159,027 shares of the semiconductor company’s stock worth $17,565,000 after purchasing an additional 7,770 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MRVL shares. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Cantor Fitzgerald raised their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Rosenblatt Securities restated a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Evercore ISI upped their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Down 4.3 %

Shares of Marvell Technology stock opened at $62.04 on Friday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The firm has a market capitalization of $53.73 billion, a PE ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. 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’s fifty day moving average price is $94.05 and its two-hundred day moving average price is $93.62.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 over the last quarter. Company insiders own 0.33% of the company’s stock.

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.