Mirador Capital Partners LP Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Mirador Capital Partners LP purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,544 shares of the semiconductor company’s stock, valued at approximately $391,000.

Other large investors also recently bought and sold shares of the company. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% during 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 in the last quarter. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth approximately $33,000. True Wealth Design LLC raised its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. Quarry LP purchased a new stake in shares of Marvell Technology in the 2nd quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock worth $2,967,670 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 1.4 %

NASDAQ:MRVL opened at $117.58 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $106.09 and a 200 day moving average price of $84.09. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.20%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Ratings Changes

A number of research analysts have commented on MRVL shares. Bank of America raised their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp boosted their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Susquehanna increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Benchmark reissued a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Loop Capital upped their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.68.

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.