Avanza Fonder AB Makes New $8.08 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Avanza Fonder AB acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 73,115 shares of the semiconductor company’s stock, valued at approximately $8,076,000.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $33,000. True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 326 shares in the last quarter. Quarry LP bought a new stake in Marvell Technology in the second quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology in the second quarter worth $32,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Trading Up 2.1 %

NASDAQ MRVL opened at $120.09 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15. 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 company has a market capitalization of $103.92 billion, a PE ratio of -70.64, a P/E/G ratio of 3.76 and a beta of 1.41. The company has a fifty day moving average of $106.09 and a 200 day moving average of $84.09.

Marvell Technology Dividend Announcement

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

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 109,244 shares of the company’s stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were 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 owns 30,959 shares of the company’s stock, 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. Insiders have sold 28,500 shares of company stock worth $2,967,670 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on MRVL shares. The Goldman Sachs Group lifted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Citigroup boosted their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their target price on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $123.08.

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.