HB Wealth Management LLC Purchases 475 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

HB Wealth Management LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,497 shares of the semiconductor company’s stock after purchasing an additional 475 shares during the period. HB Wealth Management LLC’s holdings in Marvell Technology were worth $1,712,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. State Street Corp lifted its stake in shares of Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Marvell Technology by 24.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after acquiring an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC lifted its position in Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after acquiring an additional 219,692 shares in the last quarter. Wellington Management Group LLP boosted its stake in Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Marvell Technology by 26.6% during 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. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,755 shares of company stock worth $3,615,030. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $124.76 on Tuesday. The company’s 50 day moving average is $107.35 and its 200-day moving average is $85.01. The firm has a market cap of $107.95 billion, a P/E ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRVL. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp lifted their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Cantor Fitzgerald increased their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Susquehanna raised their price target on shares of 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 upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $124.96.

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.