Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by United Asset Strategies Inc.

United Asset Strategies Inc. increased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,888 shares of the semiconductor company’s stock after acquiring an additional 14,547 shares during the quarter. Marvell Technology comprises about 2.2% of United Asset Strategies Inc.’s investment portfolio, making the stock its 8th largest position. United Asset Strategies Inc.’s holdings in Marvell Technology were worth $24,287,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its position in Marvell Technology by 597.5% during the 2nd quarter. AQR Capital Management LLC now owns 437,771 shares of the semiconductor company’s stock valued at $30,600,000 after purchasing an additional 375,012 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Marvell Technology by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,053,967 shares of the semiconductor company’s stock valued at $73,672,000 after buying an additional 164,250 shares during the period. Mackenzie Financial Corp boosted its stake in Marvell Technology by 30.8% in the second quarter. Mackenzie Financial Corp now owns 73,644 shares of the semiconductor company’s stock valued at $5,148,000 after acquiring an additional 17,342 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Marvell Technology during the 2nd quarter worth $512,000. Finally, MidWestOne Financial Group Inc. raised its position in shares of Marvell Technology by 90.5% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 15,264 shares of the semiconductor company’s stock valued at $1,067,000 after acquiring an additional 7,251 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,361,430 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $124.02 on Monday. The company’s 50-day moving average price is $110.11 and its two-hundred day moving average price is $86.44. 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 current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analysts Set New Price Targets

A number of brokerages recently commented on MRVL. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Rosenblatt Securities upped their price target on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. B. Riley increased their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Loop Capital boosted their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.38.

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.