Foresight Capital Management Advisors Inc. Raises Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Foresight Capital Management Advisors Inc. lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 28.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,242 shares of the semiconductor company’s stock after buying an additional 949 shares during the quarter. Foresight Capital Management Advisors Inc.’s holdings in Marvell Technology were worth $468,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MRVL. Davidson Kempner Capital Management LP increased its holdings in Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after acquiring an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. bought a new stake in Marvell Technology in the 3rd quarter valued at $16,435,000. Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock worth $206,418,000 after buying an additional 535,203 shares during the last quarter. Finally, Franchise Capital Ltd bought a new stake in shares of Marvell Technology in the 4th quarter worth about $1,476,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $80.77, for a total transaction of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,500 shares of company stock valued at $2,967,670. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRVL. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Evercore ISI boosted their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. The Goldman Sachs Group upped their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price target 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, Susquehanna upped their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Trading Up 0.7 %

Shares of Marvell Technology stock opened at $116.00 on Thursday. The firm has a market capitalization of $100.37 billion, a price-to-earnings ratio of -68.23, a PEG ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15. The firm’s 50 day simple moving average is $105.61 and its two-hundred day simple moving average is $83.85. 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 company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.