Hager Investment Management Services LLC Takes $6.27 Million Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Hager Investment Management Services LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 56,720 shares of the semiconductor company’s stock, valued at approximately $6,265,000. Marvell Technology makes up about 3.9% of Hager Investment Management Services LLC’s holdings, making the stock its 5th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MRVL. True Wealth Design LLC boosted its holdings in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in Marvell Technology during the 4th quarter worth about $33,000. Financial Life Planners purchased a new stake in Marvell Technology during the 4th quarter worth about $33,000. Finally, Whittier Trust Co. lifted its holdings in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRVL. The Goldman Sachs Group lifted their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Stifel Nicolaus lifted their price target on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Benchmark reissued a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Melius started coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 3.4 %

Shares of NASDAQ:MRVL opened at $109.69 on Wednesday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business’s 50 day simple moving average is $112.48 and its 200-day simple moving average is $88.27.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is currently -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.