Parkside Financial Bank & Trust Acquires 548 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Parkside Financial Bank & Trust lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 57.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,495 shares of the semiconductor company’s stock after acquiring an additional 548 shares during the period. Parkside Financial Bank & Trust’s holdings in Marvell Technology were worth $165,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRVL. Temasek Holdings Private Ltd grew its position in Marvell Technology by 581.8% in the 3rd 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 stake in Marvell Technology in the 3rd quarter worth about $120,116,000. Van ECK Associates Corp grew its position in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock worth $538,868,000 after purchasing an additional 1,570,050 shares in the last quarter. Perpetual Ltd grew its position 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 purchasing an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Marvell Technology by 14.0% in the 4th 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. 83.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen upped their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Three 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insiders Place Their Bets

In other news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, 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. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $91.82 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $79.45 billion, a PE ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40. The company’s 50 day simple moving average is $111.63 and its two-hundred day simple moving average is $93.39.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio 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.