Denali Advisors LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Denali Advisors LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,513 shares of the semiconductor company’s stock, valued at approximately $940,000.

Several other institutional investors also recently added to or reduced their stakes in MRVL. Zweig DiMenna Associates LLC boosted its stake 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 last quarter. Berbice Capital Management LLC purchased a new position in Marvell Technology in the fourth quarter valued at approximately $637,000. RFG Advisory LLC grew its holdings in Marvell Technology by 6.2% during the fourth 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 stake in Marvell Technology in the third quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Marvell Technology by 2.1% in 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.

Marvell Technology Trading Up 2.0 %

Shares of MRVL stock opened at $94.90 on Thursday. The business has a 50-day moving average price of $112.46 and a two-hundred day moving average price of $93.00. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month 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 firm has a market cap of $82.12 billion, a P/E ratio of -55.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.25%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction 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 directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 over the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MRVL shares. Cantor Fitzgerald increased their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Susquehanna boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Oppenheimer boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $127.60.

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.