Beaton Management Co. Inc. Makes New $244,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Beaton Management Co. Inc. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,213 shares of the semiconductor company’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. lifted its holdings in shares of Marvell Technology by 4.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 44,190 shares of the semiconductor company’s stock worth $4,881,000 after purchasing an additional 1,791 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Marvell Technology by 993.5% in the fourth quarter. Venturi Wealth Management LLC now owns 2,712 shares of the semiconductor company’s stock valued at $300,000 after purchasing an additional 2,464 shares in the last quarter. Pinnbrook Capital Management LP purchased a new stake in Marvell Technology in the 4th quarter worth approximately $1,493,000. CIBC Asset Management Inc grew its holdings in shares of Marvell Technology by 3.5% during the fourth quarter. CIBC Asset Management Inc now owns 197,102 shares of the semiconductor company’s stock worth $21,770,000 after purchasing an additional 6,699 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Marvell Technology by 385.7% during the fourth quarter. Principal Financial Group Inc. now owns 135,258 shares of the semiconductor company’s stock valued at $14,939,000 after purchasing an additional 107,410 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction that occurred 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. In the last 90 days, insiders have sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays upped their price target on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Susquehanna increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Up 2.9 %

Shares of Marvell Technology stock opened at $106.51 on Tuesday. The stock has a 50 day moving average of $113.93 and a 200 day moving average of $91.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $92.16 billion, a price-to-earnings ratio of -62.65, a PEG ratio of 1.77 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

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