Simon Quick Advisors LLC Has $346,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Simon Quick Advisors LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,131 shares of the semiconductor company’s stock after acquiring an additional 276 shares during the quarter. Simon Quick Advisors LLC’s holdings in Marvell Technology were worth $346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Marvell Technology by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after buying an additional 2,254,610 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after acquiring an additional 219,692 shares during the period. Wellington Management Group LLP increased its holdings in shares of Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after acquiring an additional 359,005 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares during the period. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Up 0.7 %

Shares of NASDAQ MRVL opened at $126.06 on Friday. The company has a market cap of $109.08 billion, a price-to-earnings ratio of -74.15, a PEG ratio of 4.07 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. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a 50-day moving average price of $108.68 and a two-hundred day moving average price of $85.65.

Marvell Technology Announces Dividend

The business 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 $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the topic of several research analyst reports. TD Cowen increased their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Stifel Nicolaus boosted their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Craig Hallum increased their target price on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Rosenblatt Securities boosted their price target on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.38.

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.