Sterling Investment Advisors Ltd. Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Sterling Investment Advisors Ltd. purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,415 shares of the semiconductor company’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in shares of Marvell Technology by 110.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,928 shares of the semiconductor company’s stock valued at $1,097,000 after purchasing an additional 5,208 shares during the last quarter. Avalon Capital Management increased its position in shares of Marvell Technology by 0.5% during the 4th quarter. Avalon Capital Management now owns 56,601 shares of the semiconductor company’s stock valued at $6,252,000 after purchasing an additional 285 shares during the last quarter. Artemis Wealth Advisors LLC purchased a new stake in Marvell Technology in the 4th quarter worth about $5,191,000. BankPlus Trust Department purchased a new stake in Marvell Technology in the 4th quarter worth about $258,000. Finally, Rothschild Investment LLC increased its holdings in Marvell Technology by 1.4% in the 4th quarter. Rothschild Investment LLC now owns 69,266 shares of the semiconductor company’s stock worth $7,650,000 after acquiring an additional 962 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 5.7 %

Marvell Technology stock opened at $97.91 on Tuesday. The company has a market capitalization of $84.72 billion, a price-to-earnings ratio of -57.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The business’s fifty day simple moving average is $113.05 and its two-hundred day simple moving average is $92.76.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Analyst Ratings Changes

Several brokerages recently weighed in on MRVL. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. B. Riley lifted their price target on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group lifted 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. Susquehanna lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target 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.