Northstar Advisory Group LLC Makes New $2.42 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Northstar Advisory Group LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVLFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,904 shares of the semiconductor company’s stock, valued at approximately $2,419,000. Marvell Technology comprises approximately 1.2% of Northstar Advisory Group LLC’s portfolio, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of MRVL. Sunflower Bank N.A. boosted its holdings in Marvell Technology by 4.8% in the fourth quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock valued at $332,000 after acquiring an additional 138 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of Marvell Technology during the fourth quarter worth $57,000. Sivia Capital Partners LLC bought a new stake in Marvell Technology in the fourth quarter valued at about $206,000. Cooper Financial Group bought a new position in Marvell Technology during the fourth quarter worth about $321,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in 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 Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,000 shares of company stock valued at $15,163,420. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MRVL. Stifel Nicolaus lifted their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday. Evercore ISI raised their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. UBS Group increased their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays lifted their price target on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $121.68.

Read Our Latest Report on Marvell Technology

Marvell Technology Trading Up 0.7 %

NASDAQ:MRVL traded up $0.83 on Monday, reaching $115.15. 9,596,626 shares of the stock traded hands, compared to its average volume of 10,792,062. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $103.93 and its 200-day moving average is $82.98. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The firm has a market capitalization of $99.64 billion, a price-to-earnings ratio of -67.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Marvell Technology Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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