Charles Schwab Investment Management Inc. Purchases 165,858 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.1% during the 4th quarter, Holdings Channel reports. The fund owned 3,427,745 shares of the semiconductor company’s stock after buying an additional 165,858 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Marvell Technology were worth $378,594,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB lifted its position in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after purchasing an additional 23,680 shares during the period. Stephens Inc. AR raised its stake in Marvell Technology by 16.2% in the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after buying an additional 1,175 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Marvell Technology by 3.2% during the third quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock worth $8,873,000 after buying an additional 3,855 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Marvell Technology by 83.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock valued at $10,241,000 after acquiring an additional 64,465 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Marvell Technology by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 324,233 shares of the semiconductor company’s stock valued at $23,384,000 after acquiring an additional 1,019 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,255 shares of company stock valued at $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 2.0 %

Shares of NASDAQ:MRVL opened at $90.14 on Thursday. 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 company has a market capitalization of $78.00 billion, a PE ratio of -53.02, a PEG ratio of 1.61 and a beta of 1.40. The business has a 50 day moving average of $110.52 and a two-hundred day moving average of $93.84. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.27%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MRVL shares. Oppenheimer raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and issued a $120.00 price target (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Bank of America lifted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital increased their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

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.