Dana Investment Advisors Inc. Purchases 6,676 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Dana Investment Advisors Inc. raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 208.6% in the fourth quarter, Holdings Channel reports. The fund owned 9,877 shares of the semiconductor company’s stock after buying an additional 6,676 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Marvell Technology were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MRVL. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $26,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was 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 valued at $4,330,980 over the last three months. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. B. Riley upped their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Craig Hallum increased their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Price Performance

MRVL opened at $70.84 on Friday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company’s 50 day simple moving average is $108.27 and its 200-day simple moving average is $93.84. The stock has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

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.