Empowered Funds LLC Grows Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Empowered Funds LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 15.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 47,636 shares of the semiconductor company’s stock after purchasing an additional 6,536 shares during the period. Empowered Funds LLC’s holdings in Marvell Technology were worth $5,261,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zweig DiMenna Associates LLC grew its stake in 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 purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter valued at approximately $637,000. RFG Advisory LLC grew its position in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after buying an additional 2,507 shares in the last quarter. Braun Stacey Associates Inc. bought a new stake in shares of Marvell Technology in the third quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $235,247,000 after acquiring an additional 66,654 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Benchmark reissued a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. UBS Group increased their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Oppenheimer upped their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $109.12 on Wednesday. The firm’s 50-day simple moving average is $114.53 and its 200 day simple moving average is $89.94. The stock has a market cap of $94.42 billion, a P/E ratio of -64.19, a P/E/G ratio of 1.77 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

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