Dorsey & Whitney Trust CO LLC Acquires 720 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Dorsey & Whitney Trust CO LLC raised its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,646 shares of the semiconductor company’s stock after buying an additional 720 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Marvell Technology were worth $2,391,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MRVL. Swedbank AB grew its position in shares of Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after buying an additional 23,680 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Marvell Technology by 7.6% in the 3rd quarter. Impax Asset Management Group plc now owns 574,996 shares of the semiconductor company’s stock worth $41,469,000 after buying an additional 40,796 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Marvell Technology by 16.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,888 shares of the semiconductor company’s stock worth $353,000 after buying an additional 696 shares during the last quarter. Graypoint LLC boosted its position in shares of Marvell Technology by 7.1% during the third quarter. Graypoint LLC now owns 3,124 shares of the semiconductor company’s stock valued at $225,000 after purchasing an additional 206 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Marvell Technology during the third quarter valued at approximately $72,000. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 2.0 %

MRVL stock opened at $70.84 on Friday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The business has a fifty day moving average price of $108.27 and a 200-day moving average price of $93.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -23.53%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MRVL shares. Citigroup dropped their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer lifted 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. Wells Fargo & Company lifted their price target on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Barclays dropped their price target on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.68.

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.