Cobblestone Capital Advisors LLC NY Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Cobblestone Capital Advisors LLC NY purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,737 shares of the semiconductor company’s stock, valued at approximately $302,000.

Several other institutional investors have also modified their holdings of MRVL. SVB Wealth LLC purchased a new position in Marvell Technology in the 4th quarter valued at approximately $460,000. Flputnam Investment Management Co. acquired a new stake in Marvell Technology in the fourth quarter valued at $288,000. Waterway Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter valued at $204,000. Private Trust Co. NA raised its stake in shares of Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Marvell Technology by 57.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,495 shares of the semiconductor company’s stock worth $165,000 after buying an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $91.82 on Friday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a market cap of $79.45 billion, a PE ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $111.63 and its 200-day simple moving average is $93.39.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders 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 annualized dividend and a yield of 0.26%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated 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 directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last three months. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MRVL shares. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. B. Riley raised their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Needham & Company LLC boosted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Susquehanna boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.