Advance Capital Management Inc. Makes New $204,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Advance Capital Management Inc. acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,850 shares of the semiconductor company’s stock, valued at approximately $204,000.

A number of other institutional investors have also modified their holdings of MRVL. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Quarry LP acquired a new stake in Marvell Technology during the second quarter worth about $32,000. Whittier Trust Co. boosted its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MRVL. Oppenheimer upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. KeyCorp upped their target price on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. UBS Group boosted their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.64.

Marvell Technology Stock Up 0.7 %

Shares of MRVL traded up $0.83 during trading hours on Monday, reaching $119.01. The company’s stock had a trading volume of 15,184,665 shares, compared to its average volume of 10,675,264. 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 firm has a market cap of $102.98 billion, a price-to-earnings ratio of -70.01, a P/E/G ratio of 4.03 and a beta of 1.41. The company has a 50 day moving average of $100.53 and a two-hundred day moving average of $81.32. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Insider Activity

In other news, CEO Matthew J. Murphy purchased 13,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was acquired at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the purchase, the chief executive officer now owns 221,915 shares in the company, valued at $17,227,261.45. This represents a 6.22 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,500 shares of company stock worth $14,267,670 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.