Arthur M. Cohen & Associates LLC Buys 703 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Arthur M. Cohen & Associates LLC grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,193 shares of the semiconductor company’s stock after buying an additional 703 shares during the period. Marvell Technology accounts for 0.7% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 26th biggest holding. Arthur M. Cohen & Associates LLC’s holdings in Marvell Technology were worth $3,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Davidson Kempner Capital Management LP lifted its holdings in Marvell Technology by 26.5% during the second quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology during the 3rd quarter valued at $16,435,000. Charles Schwab Investment Management Inc. boosted its holdings in Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new stake in Marvell Technology in the 4th quarter worth $1,476,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $4,099,650 over the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $124.76 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The business has a fifty day moving average of $106.70 and a 200 day moving average of $84.46. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15.

Marvell Technology Announces Dividend

The company also recently announced 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 dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MRVL shares. Evercore ISI upped their price objective on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Loop Capital raised their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley boosted their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.08.

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.