Michael S. Ryan Inc. Buys Shares of 2,485 Marvell Technology, Inc. (NASDAQ:MRVL)

Michael S. Ryan Inc. purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,485 shares of the semiconductor company’s stock, valued at approximately $274,000.

Several other hedge funds also recently made changes to their positions in MRVL. State Street Corp grew its holdings in Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after buying an additional 68,893 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Marvell Technology by 24.1% during the second quarter. Ameriprise Financial Inc. now owns 11,623,872 shares of the semiconductor company’s stock valued at $812,509,000 after acquiring an additional 2,254,610 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 acquiring an additional 219,692 shares during the period. Wellington Management Group LLP lifted its stake in Marvell Technology by 4.3% in 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 in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares during the period. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Trading Up 1.7 %

MRVL stock traded up $2.00 on Wednesday, reaching $118.23. The company’s stock had a trading volume of 8,338,832 shares, compared to its average volume of 11,014,525. The firm has a market cap of $102.30 billion, a PE ratio of -69.55, a PEG ratio of 4.03 and a beta of 1.41. The business has a fifty day simple moving average of $101.87 and a two-hundred day simple moving average of $81.95. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI raised their price target on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Susquehanna boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, B. Riley increased their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Insider Activity at Marvell Technology

In other news, CEO Matthew J. Murphy bought 13,000 shares of Marvell Technology stock in a transaction on Monday, October 14th. The shares were purchased at an average price of $77.63 per share, for a total transaction of $1,009,190.00. Following the acquisition, the chief executive officer now owns 221,915 shares of the company’s stock, valued at approximately $17,227,261.45. The trade was a 6.22 % increase in their ownership of the stock. The acquisition 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 firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $14,550,170 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.