Merit Financial Group LLC Acquires 3,443 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Merit Financial Group LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 57.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,432 shares of the semiconductor company’s stock after purchasing an additional 3,443 shares during the quarter. Merit Financial Group LLC’s holdings in Marvell Technology were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its holdings in Marvell Technology by 21.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company’s stock worth $2,344,000 after buying an additional 5,969 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Marvell Technology by 28.8% during the 2nd quarter. Pacer Advisors Inc. now owns 52,685 shares of the semiconductor company’s stock valued at $3,683,000 after acquiring an additional 11,792 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Marvell Technology by 208.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 307,225 shares of the semiconductor company’s stock worth $21,476,000 after purchasing an additional 207,773 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in shares of Marvell Technology by 7.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 5,805 shares of the semiconductor company’s stock worth $406,000 after purchasing an additional 397 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Marvell Technology by 20.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,818 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 305 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 0.8 %

MRVL opened at $123.78 on Wednesday. The business’s fifty day simple moving average is $107.97 and its 200 day simple moving average is $85.37. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week 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. The stock has a market cap of $107.11 billion, a PE ratio of -72.81, a P/E/G ratio of 4.10 and a beta of 1.41.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was 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 owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,755 shares of company stock valued at $3,615,030 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MRVL shares. Citigroup boosted their target price on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Susquehanna upped their price objective 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. Rosenblatt Securities lifted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley upped their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, Loop Capital lifted their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $124.96.

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.