Triasima Portfolio Management inc. Purchases Shares of 28,395 Marvell Technology, Inc. (NASDAQ:MRVL)

Triasima Portfolio Management inc. purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 28,395 shares of the semiconductor company’s stock, valued at approximately $3,136,000.

A number of other institutional investors have also made changes to their positions in MRVL. GAMMA Investing LLC increased its position in shares of Marvell Technology by 13.7% during the third quarter. GAMMA Investing LLC now owns 7,333 shares of the semiconductor company’s stock valued at $529,000 after acquiring an additional 882 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Marvell Technology by 9.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock valued at $359,000 after acquiring an additional 418 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of Marvell Technology during the third quarter valued at about $216,000. CWM LLC grew its holdings in shares of Marvell Technology by 17.6% in the third quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after purchasing an additional 3,760 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in shares of Marvell Technology by 10.5% in the third quarter. Wedmont Private Capital now owns 9,381 shares of the semiconductor company’s stock valued at $692,000 after purchasing an additional 894 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,361,430 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MRVL shares. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Bank of America lifted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday. 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 report on Wednesday, December 4th. Finally, Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Up 2.4 %

Shares of NASDAQ:MRVL opened at $119.24 on Friday. The company has a market capitalization of $103.18 billion, a PE ratio of -70.14, a P/E/G ratio of 3.71 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a 50 day simple moving average of $113.59 and a 200-day simple moving average of $88.68.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -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.