NorthRock Partners LLC Raises Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

NorthRock Partners LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,479 shares of the semiconductor company’s stock after purchasing an additional 534 shares during the quarter. NorthRock Partners LLC’s holdings in Marvell Technology were worth $716,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MRVL. Brookstone Capital Management boosted its holdings in Marvell Technology by 16.0% in the fourth quarter. Brookstone Capital Management now owns 3,473 shares of the semiconductor company’s stock valued at $384,000 after acquiring an additional 478 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in Marvell Technology during the 4th quarter worth $250,000. Accurate Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter worth about $280,000. SeaCrest Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at approximately $257,000. Finally, Pines Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $325,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, Director Brad W. Buss purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark Casper sold 12,460 shares of the firm’s stock in a transaction 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 sold a total of 38,915 shares of company stock valued at $2,679,800 in the last ninety days. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

MRVL has been the topic of a number of research analyst reports. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. KeyCorp cut their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Finally, Piper Sandler reduced their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $111.27.

Marvell Technology Trading Down 1.1%

Shares of NASDAQ:MRVL opened at $65.20 on Friday. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The firm has a fifty day moving average price of $60.43 and a 200 day moving average price of $88.83. The stock has a market capitalization of $56.32 billion, a PE ratio of -38.35, a P/E/G ratio of 1.61 and a beta of 1.83. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

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.