Bellwether Advisors LLC Invests $4.35 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Bellwether Advisors LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,414 shares of the semiconductor company’s stock, valued at approximately $4,353,000. Marvell Technology makes up approximately 0.8% of Bellwether Advisors LLC’s investment portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pine Valley Investments Ltd Liability Co boosted its position in Marvell Technology by 8.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company’s stock worth $1,716,000 after purchasing an additional 1,773 shares during the period. World Investment Advisors LLC grew its stake in Marvell Technology by 1.4% in the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock valued at $2,911,000 after buying an additional 560 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Marvell Technology in the 3rd quarter worth $3,432,000. Synovus Financial Corp lifted its position in Marvell Technology by 60.5% during the 3rd quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in Marvell Technology by 27.3% during the third quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock valued at $1,681,000 after acquiring an additional 5,005 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,390 shares of company stock valued at $1,937,938. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several research analyst reports. Bank of America cut their price objective on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. KeyCorp reduced their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Needham & Company LLC dropped their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Rosenblatt Securities reissued a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.56.

Marvell Technology Stock Up 2.8 %

Shares of NASDAQ:MRVL opened at $58.92 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market cap of $51.03 billion, a P/E ratio of -34.66, a P/E/G ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48. The company’s 50-day moving average price is $68.53 and its two-hundred day moving average price is $90.83.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.