Laidlaw Wealth Management LLC Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Laidlaw Wealth Management LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 19,169 shares of the semiconductor company’s stock, valued at approximately $2,117,000. Marvell Technology makes up 0.9% of Laidlaw Wealth Management LLC’s portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after buying an additional 219,692 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after buying an additional 359,005 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. This represents a 13.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is owned by company insiders.

Marvell Technology Stock Up 0.7 %

Shares of NASDAQ:MRVL opened at $107.29 on Wednesday. The stock has a 50 day moving average of $113.93 and a 200 day moving average of $91.10. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of research reports. Susquehanna boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. KeyCorp lifted their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Rosenblatt Securities lifted their price target on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Bank of America lifted their price target on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three 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. According to MarketBeat.com, the stock 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.