RFG Advisory LLC Raises Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

RFG Advisory LLC grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 42,621 shares of the semiconductor company’s stock after buying an additional 2,507 shares during the quarter. RFG Advisory LLC’s holdings in Marvell Technology were worth $4,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Marvell Technology by 538.4% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 34,591 shares of the semiconductor company’s stock valued at $3,862,000 after purchasing an additional 29,173 shares during the period. One Wealth Management Investment & Advisory Services LLC purchased a new stake in Marvell Technology during the 4th quarter valued at $299,000. Cornerstone Wealth Management LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $370,000. Secure Asset Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth $261,000. Finally, Avior Wealth Management LLC grew its holdings in shares of Marvell Technology by 129.2% in the fourth quarter. Avior Wealth Management LLC now owns 3,124 shares of the semiconductor company’s stock worth $345,000 after acquiring an additional 1,761 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. KeyCorp raised their target price on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI increased their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. TD Cowen boosted their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

MRVL opened at $126.06 on Friday. The firm has a 50-day simple moving average of $108.68 and a two-hundred day simple moving average of $85.65. 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, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.