Avalon Capital Management Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Avalon Capital Management grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,601 shares of the semiconductor company’s stock after purchasing an additional 285 shares during the period. Marvell Technology makes up about 2.0% of Avalon Capital Management’s portfolio, making the stock its 13th biggest holding. Avalon Capital Management’s holdings in Marvell Technology were worth $6,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRVL. Swedbank AB grew its position in Marvell Technology by 1.0% during the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Marvell Technology by 7,142.2% during the third quarter. International Assets Investment Management LLC now owns 239,934 shares of the semiconductor company’s stock worth $17,304,000 after buying an additional 236,621 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Marvell Technology by 7.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,377 shares of the semiconductor company’s stock valued at $893,000 after buying an additional 816 shares during the last quarter. Dakota Wealth Management increased its position in shares of Marvell Technology by 2.8% in the 3rd quarter. Dakota Wealth Management now owns 12,646 shares of the semiconductor company’s stock valued at $912,000 after acquiring an additional 343 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its stake in Marvell Technology by 5.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 12,818 shares of the semiconductor company’s stock worth $924,000 after acquiring an additional 606 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MRVL shares. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, Oppenheimer upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $97.91 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a market cap of $84.72 billion, a PE ratio of -57.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The stock’s 50 day simple moving average is $113.05 and its 200-day simple moving average is $92.76.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.25%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Marvell Technology 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.