Berbice Capital Management LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Berbice Capital Management LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,769 shares of the semiconductor company’s stock, valued at approximately $637,000. Marvell Technology comprises 0.5% of Berbice Capital Management LLC’s portfolio, making the stock its 26th largest holding.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC increased its stake in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP bought a new position in Marvell Technology in the second quarter valued at approximately $32,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology in the fourth quarter valued at approximately $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 in the last three months. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 0.3 %

Marvell Technology stock opened at $125.70 on Friday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $108.77 billion, a price-to-earnings ratio of -73.96, a P/E/G ratio of 4.12 and a beta of 1.41. 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 firm has a 50 day simple moving average of $108.68 and a 200 day simple moving average of $85.65.

Marvell Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Barclays upped their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Stifel Nicolaus upped their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Benchmark reissued a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Craig Hallum raised their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.38.

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.