E. Ohman J or Asset Management AB Purchases 4,100 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

E. Ohman J or Asset Management AB increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,000 shares of the semiconductor company’s stock after purchasing an additional 4,100 shares during the period. E. Ohman J or Asset Management AB’s holdings in Marvell Technology were worth $4,308,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in 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 buying an additional 326 shares during the period. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Quarry LP purchased a new stake in Marvell Technology in the second quarter worth about $32,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup raised their price target on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Melius began coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Needham & Company LLC boosted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays increased their target price on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $113.56 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company’s 50 day moving average is $112.15 and its two-hundred day moving average is $87.97.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,755 shares of company stock worth $4,361,430. Corporate insiders own 0.33% of the company’s stock.

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.