First Affirmative Financial Network Purchases New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

First Affirmative Financial Network acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,864 shares of the semiconductor company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth approximately $93,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Marvell Technology during the 4th quarter valued at $1,104,000. USAdvisors Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at $242,000. Forsta AP Fonden increased its stake in shares of Marvell Technology by 8.0% in the fourth quarter. Forsta AP Fonden now owns 195,300 shares of the semiconductor company’s stock worth $21,571,000 after acquiring an additional 14,500 shares during the last quarter. Finally, Smith Group Asset Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth $28,557,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $4,361,430 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on MRVL. Stifel Nicolaus upped their target price on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Barclays increased their price objective on Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Susquehanna lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. TD Cowen increased their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group lifted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Up 3.3 %

Shares of MRVL stock opened at $110.33 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The stock has a 50 day moving average of $111.31 and a two-hundred day moving average of $87.15. 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 declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s dividend payout ratio is currently -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.