Venturi Wealth Management LLC Grows Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Venturi Wealth Management LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 993.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,712 shares of the semiconductor company’s stock after purchasing an additional 2,464 shares during the quarter. Venturi Wealth Management LLC’s holdings in Marvell Technology were worth $300,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Temasek Holdings Private Ltd increased its holdings in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Marvell Technology in the third quarter worth about $120,116,000. Van ECK Associates Corp grew its stake in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Perpetual Ltd lifted its position in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after acquiring an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after acquiring an additional 571,005 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Cantor Fitzgerald boosted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup upped their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Loop Capital increased their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Three equities research 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. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’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 value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on 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 $9,351,461.85. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last ninety days. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $108.66 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $94.03 billion, a PE ratio of -63.92, a P/E/G ratio of 1.59 and a beta of 1.40. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The business’s fifty day moving average price is $113.93 and its two-hundred day moving average price is $91.69.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.