Institute for Wealth Management LLC. Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Institute for Wealth Management LLC. boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,293 shares of the semiconductor company’s stock after buying an additional 1,609 shares during the period. Institute for Wealth Management LLC.’s holdings in Marvell Technology were worth $1,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Temasek Holdings Private Ltd raised its holdings in Marvell Technology by 581.8% in the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Marvell Technology during the 3rd quarter worth approximately $120,116,000. Van ECK Associates Corp lifted its position in Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the last quarter. Perpetual Ltd grew its holdings in Marvell Technology by 3,405.3% in the fourth quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction on 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. Insiders have sold 37,755 shares of company stock worth $4,361,430 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MRVL. Stifel Nicolaus increased their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday. TD Cowen raised their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Bank of America upped their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Trading Up 3.3 %

Shares of Marvell Technology stock opened at $110.33 on Friday. The business’s fifty day simple moving average is $111.31 and its 200-day simple moving average is $87.15. 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 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.