Patton Albertson Miller Group LLC Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Patton Albertson Miller Group LLC boosted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,500 shares of the semiconductor company’s stock after acquiring an additional 120 shares during the period. Patton Albertson Miller Group LLC’s holdings in Marvell Technology were worth $828,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MRVL. Zweig DiMenna Associates LLC lifted its holdings in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after acquiring an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at about $637,000. RFG Advisory LLC lifted its stake in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. purchased a new position in shares of Marvell Technology in the third quarter worth approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. grew its position in Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the period. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MRVL. Bank of America increased their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Citigroup raised their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Craig Hallum raised their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Evercore ISI lifted their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.38.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $124.02 on Friday. The firm has a market cap of $107.31 billion, a PE ratio of -72.95, a PEG ratio of 4.12 and a beta of 1.41. The stock has a 50 day moving average of $110.11 and a 200 day moving average of $86.36. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Marvell Technology 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.