Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,644 shares of the semiconductor company’s stock after acquiring an additional 504 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Marvell Technology were worth $1,286,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC increased its holdings in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares during the last quarter. Wellington Management Group LLP lifted its stake in Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after purchasing an additional 359,005 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after buying an additional 1,570,050 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,099,650 in the last three months. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Up 6.1 %

Shares of NASDAQ:MRVL opened at $124.76 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. 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 moving average price is $106.70 and its 200 day moving average price is $84.46.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MRVL. Wells Fargo & Company increased their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Benchmark reissued a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price objective 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 target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, TD Cowen boosted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.08.

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.