Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by M&T Bank Corp

M&T Bank Corp lifted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,005 shares of the semiconductor company’s stock after purchasing an additional 448 shares during the quarter. M&T Bank Corp’s holdings in Marvell Technology were worth $6,275,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. True Wealth Design LLC grew its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the 2nd quarter valued at about $32,000. Quarry LP acquired a new position in shares of Marvell Technology in the second quarter valued at about $32,000. Whittier Trust Co. boosted its position in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in Marvell Technology in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 2.6 %

Shares of MRVL stock opened at $111.90 on Monday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. 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 stock’s fifty day moving average is $93.92 and its two-hundred day moving average is $78.32. The firm has a market capitalization of $96.83 billion, a P/E ratio of -65.82, a PEG ratio of 4.03 and a beta of 1.46.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the subject of several research reports. Susquehanna lifted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Needham & Company LLC boosted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price target on Marvell Technology from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised their target price on Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.76.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now owns 694,487 shares of the company’s stock, valued at $55,906,203.50. This represents a 17.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,000 shares of company stock worth $14,444,745. Insiders own 0.33% of the company’s stock.

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.