Charles Schwab Investment Management Inc. Purchases 165,858 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Charles Schwab Investment Management Inc. lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,427,745 shares of the semiconductor company’s stock after acquiring an additional 165,858 shares during the period. Charles Schwab Investment Management Inc. owned 0.40% of Marvell Technology worth $378,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its position in Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after buying an additional 23,680 shares during the period. Stephens Inc. AR boosted its stake in Marvell Technology by 16.2% during the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after acquiring an additional 1,175 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Marvell Technology by 3.2% during the third quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock valued at $8,873,000 after purchasing an additional 3,855 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Marvell Technology by 83.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock worth $10,241,000 after purchasing an additional 64,465 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Marvell Technology by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 324,233 shares of the semiconductor company’s stock worth $23,384,000 after buying an additional 1,019 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of recent research reports. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Melius initiated coverage on shares of Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price objective for the company. TD Cowen upped their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three investment 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 currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 in the last quarter. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Up 2.0 %

Shares of NASDAQ MRVL opened at $90.14 on Thursday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm has a 50-day simple moving average of $110.52 and a two-hundred day simple moving average of $93.84. The company has a market cap of $78.00 billion, a P/E ratio of -53.02, a PEG ratio of 1.61 and a beta of 1.40. 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 Announces Dividend

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 dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -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.