Gilder Gagnon Howe & Co. LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,738 shares of the semiconductor company's stock, valued at approximately $1,628,000.
Several other large investors have also made changes to their positions in MRVL. Coldstream Capital Management Inc. increased its stake in shares of Marvell Technology by 1.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company's stock valued at $1,253,000 after acquiring an additional 116 shares during the last quarter. Capital Analysts LLC increased its stake in Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 241 shares in the last quarter. Monolith Management Ltd acquired a new stake in Marvell Technology in the fourth quarter worth $9,388,000. Kovitz Investment Group Partners LLC bought a new position in shares of Marvell Technology during the fourth quarter worth $677,000. Finally, Integrated Wealth Concepts LLC increased its position in shares of Marvell Technology by 2.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 10,165 shares of the semiconductor company's stock valued at $1,123,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.
Marvell Technology Stock Performance
NASDAQ:MRVL traded up $2.79 during mid-day trading on Thursday, hitting $61.16. 8,164,197 shares of the stock were exchanged, compared to its average volume of 13,637,261. 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 firm's 50-day simple moving average is $65.58 and its 200 day simple moving average is $90.28. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. The stock has a market capitalization of $52.97 billion, a price-to-earnings ratio of -36.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.
Marvell Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Marvell Technology's dividend payout ratio (DPR) is presently -23.53%.
Insider Buying and Selling
In related news, EVP Mark Casper sold 12,460 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $685,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares of the company's stock, valued at $9,351,461.85. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,390 shares of company stock valued at $1,937,938. 0.33% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on MRVL shares. Rosenblatt Securities reiterated a "buy" rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Loop Capital upgraded Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a report on Thursday, March 6th. Needham & Company LLC dropped their target price on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Raymond James set a $110.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, KeyCorp dropped their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $114.56.
Read Our Latest Stock Analysis on Marvell Technology
Marvell Technology Company Profile
(
Free Report)
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.
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