Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Raised by RFG Advisory LLC

RFG Advisory LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,621 shares of the semiconductor company's stock after purchasing an additional 2,507 shares during the quarter. RFG Advisory LLC's holdings in Marvell Technology were worth $4,708,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MRVL. True Wealth Design LLC increased its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP acquired a new position in Marvell Technology during the second quarter worth $32,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 83.51% of the company's stock.

Marvell Technology Trading Down 1.8 %

Shares of Marvell Technology stock traded down $2.23 during trading hours on Friday, reaching $123.83. The stock had a trading volume of 6,356,116 shares, compared to its average volume of 10,578,808. The firm has a 50 day simple moving average of $108.68 and a two-hundred day simple moving average of $85.65. The firm has a market capitalization of $107.15 billion, a price-to-earnings ratio of -72.99, a P/E/G ratio of 4.12 and a beta of 1.41. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. 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 will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology's dividend payout ratio is presently -14.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MRVL shares. TD Cowen increased their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Benchmark restated a "buy" rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Loop Capital increased their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.38.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company's stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction 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 on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

About Marvell Technology

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.