Migdal Insurance & Financial Holdings Ltd. Boosts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 7,866,566.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,000 shares of the semiconductor company’s stock after buying an additional 471,994 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Marvell Technology were worth $52,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Consolidated Portfolio Review Corp purchased a new position in shares of Marvell Technology in the fourth quarter worth about $259,000. GHP Investment Advisors Inc. lifted its stake in shares of Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares in the last quarter. McHugh Group LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth about $345,000. Trilogy Capital Inc. purchased a new position in Marvell Technology during the fourth quarter worth about $211,000. Finally, Onyx Bridge Wealth Group LLC raised its stake in Marvell Technology by 3.6% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 5,322 shares of the semiconductor company’s stock worth $588,000 after purchasing an additional 185 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald lifted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. TD Cowen lifted their target price 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, Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $119.24 on Friday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company’s 50 day moving average is $113.59 and its two-hundred day moving average is $88.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Activity

In other news, EVP Chris Koopmans sold 6,000 shares of the company’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 owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,755 shares of company stock worth $4,361,430. Corporate insiders own 0.33% of the company’s stock.

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.