Marvin & Palmer Associates Inc. Takes $2.66 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Marvin & Palmer Associates Inc. bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, Holdings Channel reports. The institutional investor bought 24,104 shares of the semiconductor company’s stock, valued at approximately $2,662,000. Marvell Technology comprises about 2.0% of Marvin & Palmer Associates Inc.’s holdings, making the stock its 24th biggest holding.

A number of other institutional investors also recently modified their holdings of MRVL. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on MRVL shares. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a report on Thursday. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, UBS Group upped their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Price Performance

MRVL opened at $70.84 on Monday. 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. The company has a fifty day simple moving average of $108.27 and a 200 day simple moving average of $94.00. The stock has a market cap of $61.30 billion, a P/E ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The company also recently announced 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was 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 owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brad W. Buss bought 3,000 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 36,255 shares of company stock worth $4,330,980. 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.