Shoker Investment Counsel Inc. Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Shoker Investment Counsel Inc. purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,986 shares of the semiconductor company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares during the period. Geode Capital Management LLC lifted its stake in shares of Marvell Technology by 2.0% in 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 purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP grew 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 worth $627,034,000 after purchasing an additional 359,005 shares during the period. Van ECK Associates Corp increased its position in 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 worth $538,868,000 after purchasing an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Marvell Technology by 14.0% in the fourth 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 during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Performance

Marvell Technology stock opened at $87.65 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a fifty day moving average price of $112.03 and a two-hundred day moving average price of $92.96. The company has a market cap of $75.84 billion, a PE ratio of -51.56, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors 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 0.27%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MRVL. Morgan Stanley reissued an “equal weight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a report on Friday, February 14th. Stifel Nicolaus boosted their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price target (up from $100.00) on shares of Marvell Technology in a 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $127.60.

Insider Buying and Selling

In related news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 over the last quarter. 0.33% of the stock is owned by company insiders.

Marvell Technology 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.