Friedenthal Financial Buys Shares of 516 Marvell Technology, Inc. (NASDAQ:MRVL)

Friedenthal Financial acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 516 shares of the semiconductor company’s stock, valued at approximately $57,000.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its stake in shares of Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after buying an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after buying an additional 219,692 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after acquiring an additional 359,005 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Activity

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $120,750.00. Following the completion of the transaction, the chief financial officer now owns 110,253 shares in the company, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock valued at $15,163,420 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

MRVL has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and issued a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Cantor Fitzgerald boosted their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Craig Hallum increased their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC upped 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. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Stock Up 0.7 %

Shares of Marvell Technology stock traded up $0.83 on Monday, reaching $115.15. 9,583,817 shares of the company were exchanged, compared to its average volume of 10,401,977. The company has a market capitalization of $99.64 billion, a price-to-earnings ratio of -67.73, a PEG ratio of 4.03 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. The company has a 50-day moving average of $103.93 and a 200 day moving average of $82.98.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.