Marvell Technology, Inc. (NASDAQ:MRVL) Position Increased by Sabal Trust CO

Sabal Trust CO grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 63.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,237 shares of the semiconductor company’s stock after acquiring an additional 4,765 shares during the period. Sabal Trust CO’s holdings in Marvell Technology were worth $1,352,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Zweig DiMenna Associates LLC lifted its holdings in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new stake in Marvell Technology in the fourth quarter worth approximately $637,000. RFG Advisory LLC increased its stake in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology in the 3rd quarter valued at $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares in the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $93.00 on Wednesday. The company has a fifty day moving average price of $112.66 and a 200 day moving average price of $92.99. The firm has a market cap of $80.47 billion, a PE ratio of -54.71, a PEG ratio of 1.61 and a beta of 1.40. 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 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Analysts Set New Price Targets

MRVL has been the topic of a number of recent analyst reports. Craig Hallum raised their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Citigroup boosted their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Melius assumed coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research report 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 company’s stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Insiders Place Their Bets

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction dated 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. This represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 in the last quarter. 0.33% of the stock is currently owned by insiders.

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.