Howard Financial Services LTD. Buys New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Howard Financial Services LTD. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,282 shares of the semiconductor company’s stock, valued at approximately $473,000.

A number of other large investors also recently modified their holdings of MRVL. State Street Corp raised its holdings in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after acquiring an additional 68,893 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after buying an additional 359,005 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock valued at $4,099,650. Company insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 6.1 %

Shares of NASDAQ MRVL opened at $124.76 on Friday. The stock’s fifty day moving average is $106.70 and its 200 day moving average is $84.46. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MRVL. Stifel Nicolaus lifted their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. UBS Group raised their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald boosted their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Evercore ISI raised their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.08.

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.