Bank of Montreal Can Buys 516,571 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Bank of Montreal Can boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 191.1% in the 4th quarter, Holdings Channel reports. The firm owned 786,860 shares of the semiconductor company’s stock after acquiring an additional 516,571 shares during the quarter. Bank of Montreal Can’s holdings in Marvell Technology were worth $86,909,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MRVL. Intrepid Financial Planning Group LLC boosted its position in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc boosted its holdings in Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares during the period. Lodestone Wealth Management LLC boosted its holdings in Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. grew its position in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Marvell Technology by 2.7% in the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 1.9 %

Shares of Marvell Technology stock opened at $50.03 on Wednesday. The company’s fifty day simple moving average is $84.23 and its two-hundred day simple moving average is $92.60. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $43.33 billion, a P/E ratio of -29.43, a PEG ratio of 1.61 and a beta of 1.78.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.48%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. TD Cowen decreased their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Bank of America dropped their target price on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Needham & Company LLC cut their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Buying and Selling at Marvell Technology

In related news, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was 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. In the last three months, insiders have sold 30,185 shares of company stock valued at $3,131,018. 0.33% of the stock is currently owned by corporate insiders.

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.