Ancora Advisors LLC Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Ancora Advisors LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,113 shares of the semiconductor company’s stock after acquiring an additional 254 shares during the period. Ancora Advisors LLC’s holdings in Marvell Technology were worth $786,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRVL. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter worth $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,890 shares of company stock worth $2,027,938 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Cowen reduced their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.56.

Marvell Technology Trading Down 0.6 %

NASDAQ MRVL opened at $61.98 on Tuesday. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48. The firm has a 50 day moving average of $63.56 and a two-hundred day moving average of $90.05. 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 stock has a market capitalization of $53.68 billion, a PE ratio of -36.46, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Marvell Technology 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.