Michael S. Ryan Inc. Invests $274,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Michael S. Ryan Inc. acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,485 shares of the semiconductor company’s stock, valued at approximately $274,000.

A number of other large investors have also added to or reduced their stakes in MRVL. Ameriprise Financial Inc. boosted its stake in Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Temasek Holdings Private Ltd boosted its position in shares of Marvell Technology by 581.8% during the third quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Marvell Technology during the third quarter valued at $120,116,000. Van ECK Associates Corp raised 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 buying an additional 1,570,050 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in Marvell Technology in the 2nd quarter worth about $108,204,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Bank of America lifted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Barclays increased their price target on Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Loop Capital lifted their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Benchmark reissued a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.64.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This represents a 5.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,000 shares of company stock worth $14,550,170. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

MRVL stock traded up $2.00 during midday trading on Wednesday, hitting $118.23. The company’s stock had a trading volume of 8,338,832 shares, compared to its average volume of 11,014,525. The firm has a market capitalization of $102.30 billion, a price-to-earnings ratio of -69.55, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. 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, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The company has a 50 day moving average of $101.87 and a two-hundred day moving average of $81.95.

Marvell Technology Announces Dividend

The business also recently announced 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 0.20%. Marvell Technology’s payout ratio is -14.12%.

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.