Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Colonial River Investments LLC

Colonial River Investments LLC lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,217 shares of the semiconductor company’s stock after acquiring an additional 243 shares during the period. Colonial River Investments LLC’s holdings in Marvell Technology were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. MONECO Advisors LLC lifted its stake in Marvell Technology by 3.9% during the fourth quarter. MONECO Advisors LLC now owns 4,108 shares of the semiconductor company’s stock valued at $454,000 after purchasing an additional 155 shares during the last quarter. Howard Capital Management Inc. lifted its stake in Marvell Technology by 3.2% during the fourth quarter. Howard Capital Management Inc. now owns 23,732 shares of the semiconductor company’s stock valued at $2,621,000 after purchasing an additional 726 shares during the last quarter. WESPAC Advisors LLC acquired a new stake in Marvell Technology during the fourth quarter valued at approximately $221,000. TCW Group Inc. lifted its stake in Marvell Technology by 79.4% during the fourth quarter. TCW Group Inc. now owns 545,404 shares of the semiconductor company’s stock valued at $60,240,000 after purchasing an additional 241,438 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Marvell Technology by 20.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 343 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

MRVL stock opened at $103.85 on Monday. 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 firm has a 50 day moving average of $113.59 and a two-hundred day moving average of $92.50. The company has a market capitalization of $89.86 billion, a price-to-earnings ratio of -61.09, a P/E/G ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Buying and Selling

In related news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on 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 available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MRVL shares. TD Cowen boosted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Melius started 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. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Needham & Company LLC boosted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $127.60.

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.