Independence Bank of Kentucky Raises Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Independence Bank of Kentucky grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,300 shares of the semiconductor company’s stock after buying an additional 150 shares during the quarter. Independence Bank of Kentucky’s holdings in Marvell Technology were worth $144,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its stake in Marvell Technology by 0.3% in the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after acquiring an additional 68,893 shares during the last quarter. Geode Capital Management LLC lifted its position 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 worth $818,916,000 after purchasing an additional 219,692 shares during the last quarter. Wellington Management Group LLP lifted its position 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 last quarter. Van ECK Associates Corp grew its stake in shares of Marvell Technology by 26.6% during the third 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 increased 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 last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Stock Up 2.3 %

MRVL stock opened at $112.86 on Monday. The stock has a market capitalization of $97.66 billion, a PE ratio of -66.39, a price-to-earnings-growth ratio of 3.51 and a beta of 1.41. The company has a fifty day moving average of $111.72 and a 200-day moving average of $87.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. 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 0.21%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’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 sale, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. KeyCorp upped their price objective on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Susquehanna upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. UBS Group upped their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities lifted their price target on shares of Marvell Technology from $120.00 to $140.00 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 one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.