Sabal Trust CO Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Sabal Trust CO raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 63.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,237 shares of the semiconductor company’s stock after acquiring an additional 4,765 shares during the quarter. Sabal Trust CO’s holdings in Marvell Technology were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lodestone Wealth Management LLC grew its position in shares of Marvell Technology by 2.0% in the fourth 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. increased its stake 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 acquiring an additional 96 shares during the last quarter. Waldron Private Wealth LLC lifted its holdings in shares of Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 103 shares during the period. Tsfg LLC boosted its position in shares of Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 111 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 112 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

MRVL stock opened at $93.00 on Wednesday. The stock’s 50 day simple moving average is $112.66 and its 200 day simple moving average is $92.99. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market cap of $80.47 billion, a P/E ratio of -54.71, a P/E/G ratio of 1.61 and a beta of 1.40. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MRVL shares. Needham & Company LLC lifted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus lifted their target price on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Oppenheimer increased their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research 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 company’s stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Buying and Selling at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value 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 over the last ninety days. Company insiders own 0.33% of the company’s stock.

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.