6,500 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Southport Management L.L.C.

Southport Management L.L.C. purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,500 shares of the semiconductor company’s stock, valued at approximately $718,000. Marvell Technology makes up about 2.6% of Southport Management L.L.C.’s holdings, making the stock its 16th largest position.

Other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $27,000. Financial Life Planners purchased a new stake in Marvell Technology in the fourth quarter worth about $33,000. Lee Danner & Bass Inc. purchased a new stake in Marvell Technology in the fourth quarter worth about $35,000. Finally, Capital Analysts LLC increased its position in shares of Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 241 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus reduced their price target on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC dropped their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $111.27.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Panteha Dixon sold 1,239 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $65.01, for a total transaction of $80,547.39. Following the transaction, the chief accounting officer now directly owns 30,855 shares of the company’s stock, valued at $2,005,883.55. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,915 shares of company stock worth $2,679,800 in the last three months. Company insiders own 0.19% of the company’s stock.

Marvell Technology Stock Down 1.1%

Shares of MRVL stock opened at $65.20 on Friday. The company has a market capitalization of $56.32 billion, a price-to-earnings ratio of -38.35, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The company’s fifty day moving average price is $60.43 and its 200-day moving average price is $88.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Marvell Technology’s payout ratio is -23.53%.

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.