Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Graypoint LLC

Graypoint LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 28.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,018 shares of the semiconductor company’s stock after buying an additional 894 shares during the period. Graypoint LLC’s holdings in Marvell Technology were worth $444,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MRVL. Harbor Capital Advisors Inc. increased its position in shares of Marvell Technology by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,920 shares of the semiconductor company’s stock worth $1,096,000 after acquiring an additional 242 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Marvell Technology by 1.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 49,974 shares of the semiconductor company’s stock valued at $5,520,000 after purchasing an additional 629 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Marvell Technology by 175.3% in the 4th 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 period. Michael S. Ryan Inc. acquired a new position in shares of Marvell Technology during the fourth quarter worth about $274,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth approximately $200,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $114.32 on Friday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15. The company has a 50-day moving average price of $103.93 and a 200 day moving average price of $82.88. The company has a market cap of $98.92 billion, a P/E ratio of -67.25, a PEG ratio of 4.03 and a beta of 1.41. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. 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 presently -14.12%.

Insiders Place Their Bets

In other news, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the sale, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. This trade represents a 17.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Murphy purchased 13,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the acquisition, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. This trade represents a 6.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 180,000 shares of company stock worth $15,163,420. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. TD Cowen raised their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Bank of America upped their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $121.28.

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.