Callan Family Office LLC Makes New $432,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Callan Family Office LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,907 shares of the semiconductor company’s stock, valued at approximately $432,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRVL. Swedbank AB raised its stake in Marvell Technology by 1.0% in 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 last quarter. Impax Asset Management Group plc boosted its stake in Marvell Technology by 7.6% in the 3rd quarter. Impax Asset Management Group plc now owns 574,996 shares of the semiconductor company’s stock worth $41,469,000 after purchasing an additional 40,796 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Marvell Technology by 16.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,888 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 696 shares during the last quarter. Graypoint LLC increased its stake in Marvell Technology by 7.1% during the 3rd quarter. Graypoint LLC now owns 3,124 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 206 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Marvell Technology in the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research reports. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday. Craig Hallum increased their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Thursday. Finally, Evercore ISI raised their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Insider Activity

In other news, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 2.0 %

Shares of MRVL opened at $70.84 on Monday. The stock has a 50 day moving average price of $108.27 and a 200 day moving average price of $94.00. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market capitalization of $61.30 billion, a price-to-earnings ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -23.53%.

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.