Csenge Advisory Group Buys 535 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Csenge Advisory Group lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,893 shares of the semiconductor company’s stock after buying an additional 535 shares during the period. Csenge Advisory Group’s holdings in Marvell Technology were worth $430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. WD Rutherford LLC raised its stake in Marvell Technology by 37.7% during the fourth quarter. WD Rutherford LLC now owns 25,158 shares of the semiconductor company’s stock worth $2,779,000 after acquiring an additional 6,892 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Marvell Technology by 12.1% in the 4th quarter. Allworth Financial LP now owns 4,560 shares of the semiconductor company’s stock worth $504,000 after purchasing an additional 494 shares during the last quarter. Quantum Private Wealth LLC grew its holdings in shares of Marvell Technology by 1.1% in the 4th quarter. Quantum Private Wealth LLC now owns 33,833 shares of the semiconductor company’s stock worth $3,737,000 after purchasing an additional 357 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Marvell Technology during the 4th quarter worth about $437,000. Finally, TigerOak Management L.L.C. bought a new position in Marvell Technology during the 4th quarter valued at about $508,000. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MRVL. 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 research note on Wednesday, December 4th. Craig Hallum increased their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Cantor Fitzgerald lifted their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Rosenblatt Securities increased their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley lowered their target price on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Trading Up 0.7 %

MRVL opened at $107.29 on Wednesday. The firm’s fifty day moving average is $113.93 and its two-hundred day moving average is $91.10. The firm has a market cap of $92.84 billion, a PE ratio of -63.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was 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. Over the last ninety days, insiders sold 30,255 shares of company stock valued at $3,692,880. Company insiders own 0.33% of the company’s stock.

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.