B. Riley Wealth Advisors Inc. Has $1.35 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

B. Riley Wealth Advisors Inc. lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 48.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,662 shares of the semiconductor company’s stock after selling 17,538 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Marvell Technology were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Oddo BHF Asset Management Sas acquired a new stake in shares of Marvell Technology in the third quarter valued at about $10,944,000. Beaird Harris Wealth Management LLC increased its position in shares of Marvell Technology by 2,313.8% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 671 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Marvell Technology by 27.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 23,312 shares of the semiconductor company’s stock worth $1,681,000 after purchasing an additional 5,005 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Marvell Technology by 60.5% during the 3rd quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 2,445 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Marvell Technology in the 3rd quarter valued at approximately $3,432,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Up 3.3 %

Shares of MRVL stock opened at $124.78 on Tuesday. The stock has a market cap of $107.97 billion, a P/E ratio of -73.40, a price-to-earnings-growth ratio of 3.72 and a beta of 1.46. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15. 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 stock has a 50 day simple moving average of $91.00 and a 200 day simple moving average of $77.15.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology’s payout ratio is -14.12%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total transaction of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares of the company’s stock, valued at approximately $1,593,250.02. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,500 shares of company stock valued at $13,525,995. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MRVL. Needham & Company LLC upped their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Marvell Technology from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Citigroup raised their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus reissued a “buy” rating and set a $125.00 price target (up previously from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Marvell Technology in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.04.

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.