Choreo LLC Has $1.81 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Choreo LLC grew its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 25.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,260 shares of the semiconductor company’s stock after purchasing an additional 3,265 shares during the period. Choreo LLC’s holdings in Marvell Technology were worth $1,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Valley National Advisers Inc. grew its position in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares in the last quarter. Waldron Private Wealth LLC grew its position in shares of Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 103 shares in the last quarter. Tsfg LLC grew its position in shares of Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 111 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 116 shares in the last quarter. Finally, Patton Albertson Miller Group LLC grew its position in shares of Marvell Technology by 1.6% during the 4th quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock worth $828,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds 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 stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Trading Down 7.2 %

Shares of NASDAQ MRVL opened at $110.62 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The firm has a 50 day moving average price of $113.59 and a two-hundred day moving average price of $88.68. The stock has a market cap of $95.72 billion, a P/E ratio of -65.07, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Analyst Ratings Changes

A number of research analysts have issued reports on MRVL shares. UBS Group increased their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Melius started coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Craig Hallum upped their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday. Three equities research 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 company. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average price target 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.