Builder Investment Group Inc. ADV Buys New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Builder Investment Group Inc. ADV purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,000 shares of the semiconductor company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock worth $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Temasek Holdings Private Ltd grew its stake in shares of 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 valued at $161,555,000 after purchasing an additional 1,911,532 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Marvell Technology in the third quarter valued at approximately $120,116,000. Van ECK Associates Corp raised its stake in shares of Marvell Technology by 26.6% during the third 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 during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in Marvell Technology in the 2nd quarter valued at $108,204,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the sale, the director now directly owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,500 shares of company stock worth $2,967,670. 0.33% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on MRVL shares. Needham & Company LLC raised their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities raised their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Barclays raised 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. Finally, B. Riley upped their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Trading Up 0.7 %

Shares of MRVL stock opened at $116.00 on Thursday. The company has a market capitalization of $100.37 billion, a price-to-earnings ratio of -68.23, a PEG ratio of 3.76 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $105.61 and a 200 day moving average price of $83.85. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15.

Marvell Technology Dividend Announcement

The company 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. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -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.