Enclave Advisors LLC Acquires New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Enclave Advisors LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,756 shares of the semiconductor company’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ADE LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth about $225,000. Perpetual Ltd grew its stake in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after buying an additional 682,457 shares in the last quarter. Chesapeake Wealth Management bought a new position in shares of Marvell Technology in the 4th quarter worth $263,000. Ballentine Partners LLC raised its position in shares of Marvell Technology by 7.3% during the 4th quarter. Ballentine Partners LLC now owns 6,470 shares of the semiconductor company’s stock valued at $715,000 after buying an additional 439 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth $200,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $123.78 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The stock has a market cap of $107.11 billion, a P/E ratio of -72.81, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The firm’s fifty day simple moving average is $107.97 and its 200 day simple moving average is $85.37.

Marvell Technology Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MRVL shares. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their price objective on Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Wells Fargo & Company upped their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group lifted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Loop Capital upped their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.96.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 31,755 shares of company stock valued at $3,615,030 over the last three months. Corporate insiders own 0.33% of the company’s stock.

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.