Appleton Partners Inc. MA Buys Shares of 136,497 Marvell Technology, Inc. (NASDAQ:MRVL)

Appleton Partners Inc. MA purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 136,497 shares of the semiconductor company’s stock, valued at approximately $15,076,000. Marvell Technology comprises 1.1% of Appleton Partners Inc. MA’s investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in MRVL. Dynamic Advisor Solutions LLC increased its stake in shares of Marvell Technology by 9.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock valued at $359,000 after buying an additional 418 shares during the period. Brookstone Capital Management bought a new stake in Marvell Technology in the third quarter valued at approximately $216,000. CWM LLC increased its position in Marvell Technology by 17.6% during the 3rd quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after purchasing an additional 3,760 shares during the period. Wedmont Private Capital raised its holdings in Marvell Technology by 10.5% during the 3rd quarter. Wedmont Private Capital now owns 9,381 shares of the semiconductor company’s stock worth $692,000 after purchasing an additional 894 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its position in shares of Marvell Technology by 38.9% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 814 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MRVL. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Stifel Nicolaus increased their price target on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Craig Hallum boosted 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. Rosenblatt Securities raised their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Down 7.2 %

Shares of Marvell Technology stock opened at $110.62 on Friday. The company has a market capitalization of $95.72 billion, a P/E ratio of -65.07, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40. The stock has a fifty day simple moving average of $113.59 and a 200 day simple moving average of $88.68. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Marvell Technology’s payout ratio is -14.12%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,361,430 over the last quarter. Insiders own 0.33% of the company’s stock.

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.