Gladstone Institutional Advisory LLC Has $2.08 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Gladstone Institutional Advisory LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,844 shares of the semiconductor company’s stock after buying an additional 195 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Marvell Technology were worth $2,081,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Brookstone Capital Management purchased a new stake in shares of Marvell Technology during the third quarter worth $216,000. CWM LLC increased its position in Marvell Technology by 17.6% in the 3rd quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock worth $1,812,000 after purchasing an additional 3,760 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Marvell Technology by 5.6% during the 3rd quarter. Inspire Investing LLC now owns 3,981 shares of the semiconductor company’s stock worth $287,000 after purchasing an additional 210 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 336 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its stake in shares of Marvell Technology by 131.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 41,415 shares of the semiconductor company’s stock valued at $2,987,000 after buying an additional 23,500 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the 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 completion of the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on MRVL shares. Bank of America raised their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. B. Riley raised their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen upped their price target on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Down 3.4 %

MRVL stock opened at $105.42 on Thursday. The business’s 50-day simple moving average is $114.27 and its 200 day simple moving average is $90.05. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $91.22 billion, a PE ratio of -62.01, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

About Marvell Technology

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.