Los Angeles Capital Management LLC Boosts Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Los Angeles Capital Management LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 110.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,928 shares of the semiconductor company’s stock after buying an additional 5,208 shares during the period. Los Angeles Capital Management LLC’s holdings in Marvell Technology were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Swedbank AB grew its holdings in Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after acquiring an additional 23,680 shares during the period. First Trust Direct Indexing L.P. grew its holdings in Marvell Technology by 23.1% during the third quarter. First Trust Direct Indexing L.P. now owns 13,759 shares of the semiconductor company’s stock worth $992,000 after acquiring an additional 2,584 shares during the period. Stephens Investment Management Group LLC grew its holdings in Marvell Technology by 34.3% during the third quarter. Stephens Investment Management Group LLC now owns 239,936 shares of the semiconductor company’s stock worth $17,304,000 after acquiring an additional 61,307 shares during the period. Stephens Inc. AR grew its holdings in Marvell Technology by 16.2% during the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock worth $606,000 after acquiring an additional 1,175 shares during the period. Finally, Americana Partners LLC purchased a new position in Marvell Technology in the 3rd quarter valued at approximately $315,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of several research analyst reports. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities lifted their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum lifted their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Stifel Nicolaus lifted their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 4.8 %

Shares of Marvell Technology stock opened at $91.82 on Friday. The company has a fifty day moving average price of $111.63 and a 200 day moving average price of $93.39. 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 twelve month low of $53.19 and a twelve month high of $127.48. The stock has a market cap of $79.45 billion, a price-to-earnings ratio of -54.01, a price-to-earnings-growth ratio of 1.61 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. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

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.