Savant Capital LLC Acquires 959 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Savant Capital LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,430 shares of the semiconductor company’s stock after purchasing an additional 959 shares during the quarter. Savant Capital LLC’s holdings in Marvell Technology were worth $1,483,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MRVL. Temasek Holdings Private Ltd increased its holdings in Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Marvell Technology in the 3rd quarter worth approximately $120,116,000. Van ECK Associates Corp lifted its stake in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the last quarter. Perpetual Ltd grew its holdings in Marvell Technology by 3,405.3% during the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after purchasing an additional 682,457 shares during the period. Finally, Nordea Investment Management AB increased its position in Marvell Technology by 14.0% in the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after buying an additional 571,005 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MRVL shares. Stifel Nicolaus upped their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Morgan Stanley cut their target price on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. UBS Group lifted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Loop Capital upped their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Craig Hallum lifted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Down 1.8 %

MRVL opened at $103.50 on Friday. The business’s fifty day simple moving average is $114.27 and its 200 day simple moving average is $90.05. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market cap of $89.56 billion, a PE ratio of -60.88, a P/E/G ratio of 1.77 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio is -14.12%.

Insider Buying and Selling

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,255 shares of company stock worth $3,692,880 in the last quarter. 0.33% of the stock is owned by insiders.

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.