Integrated Wealth Concepts LLC Has $716,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Integrated Wealth Concepts LLC lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,931 shares of the semiconductor company’s stock after buying an additional 139 shares during the period. Integrated Wealth Concepts LLC’s holdings in Marvell Technology were worth $716,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Marvell Technology by 24.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after purchasing an additional 2,254,610 shares during the last quarter. Van ECK Associates Corp increased its holdings in Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. Clearbridge Investments LLC raised its position in Marvell Technology by 3.0% during the 2nd quarter. Clearbridge Investments LLC now owns 5,189,682 shares of the semiconductor company’s stock worth $362,759,000 after purchasing an additional 150,109 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Marvell Technology by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,844,719 shares of the semiconductor company’s stock worth $268,711,000 after buying an additional 25,983 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $107.03 on Tuesday. Marvell Technology, Inc. has a 1-year low of $52.89 and a 1-year high of $119.88. 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 market cap of $92.61 billion, a PE ratio of -62.96, a price-to-earnings-growth ratio of 3.79 and a beta of 1.46. The stock’s fifty day simple moving average is $86.79 and its two-hundred day simple moving average is $75.83.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, October 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRVL. The Goldman Sachs Group lifted their price objective on Marvell Technology from $87.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Citigroup upped their price objective 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. Loop Capital lifted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC increased their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.04.

Insiders Place Their Bets

In related 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 completion of the transaction, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the sale, the chief financial officer now directly owns 111,753 shares in the company, valued at approximately $8,255,194.11. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 267,000 shares of company stock valued at $20,899,260. Corporate insiders own 0.33% of the company’s stock.

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.