Simon Quick Advisors LLC Buys 276 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Simon Quick Advisors LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,131 shares of the semiconductor company’s stock after buying an additional 276 shares during the period. Simon Quick Advisors LLC’s holdings in Marvell Technology were worth $346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology during the second quarter worth $32,000. Quarry LP bought a new position in Marvell Technology during the second quarter worth $32,000. Finally, Kieckhefer Group LLC acquired a new position in Marvell Technology in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent analyst reports. Bank of America increased their price target on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Morgan Stanley increased their price target on Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Stifel Nicolaus lifted their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Marvell Technology Price Performance

Marvell Technology stock opened at $126.06 on Friday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The business has a fifty day moving average price of $108.68 and a 200-day moving average price of $85.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market capitalization of $109.08 billion, a P/E ratio of -74.15, a PEG ratio of 4.07 and a beta of 1.41.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued 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 payout ratio is -14.12%.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by company insiders.

Marvell Technology Company 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.