Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Increased by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 20.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,037 shares of the semiconductor company’s stock after purchasing an additional 343 shares during the quarter. First Horizon Advisors Inc.’s holdings in Marvell Technology were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC boosted its stake in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter valued at $637,000. RFG Advisory LLC boosted its position 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 valued at $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. purchased a new position in Marvell Technology in the 3rd quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL stock opened at $93.00 on Wednesday. The company has a market capitalization of $80.47 billion, a price-to-earnings ratio of -54.71, a P/E/G ratio of 1.61 and a beta of 1.40. The firm has a 50 day moving average of $112.66 and a two-hundred day moving average of $92.99. The company has a quick ratio of 1.11, a current ratio of 1.60 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 was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Analysts Set New Price Targets

MRVL has been the subject of several recent analyst reports. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Bank of America raised their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Barclays reiterated an “overweight” rating on shares of Marvell Technology in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction 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. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 over the last three months. Corporate 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.