L. Roy Papp & Associates LLP Has $11.92 Million Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

L. Roy Papp & Associates LLP raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 107,895 shares of the semiconductor company’s stock after buying an additional 276 shares during the quarter. Marvell Technology accounts for about 1.4% of L. Roy Papp & Associates LLP’s portfolio, making the stock its 22nd biggest holding. L. Roy Papp & Associates LLP’s holdings in Marvell Technology were worth $11,917,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Financial Life Planners acquired a new stake in Marvell Technology during the fourth quarter worth about $33,000. Finally, Whittier Trust Co. increased its stake in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. 83.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. raised their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. UBS Group increased their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Bank of America upped their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Down 3.3 %

Shares of NASDAQ MRVL opened at $109.12 on Wednesday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year 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. The company has a 50-day moving average of $114.53 and a two-hundred day moving average of $89.94. The company has a market cap of $94.42 billion, a PE ratio of -64.19, a P/E/G ratio of 1.77 and a beta of 1.40.

Marvell Technology Dividend Announcement

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

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,755 shares of company stock valued at $4,361,430. Company insiders own 0.33% of the company’s stock.

About Marvell Technology

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.