Marvell Technology, Inc. (NASDAQ:MRVL) Stock Holdings Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,053,133 shares of the semiconductor company’s stock after purchasing an additional 5,561 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Marvell Technology were worth $226,769,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Dynamic Advisor Solutions LLC grew its position in Marvell Technology by 9.2% in the 3rd 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 in the last quarter. Brookstone Capital Management bought a new position in shares of Marvell Technology in the third quarter valued at approximately $216,000. CWM LLC increased its stake in shares of Marvell Technology by 17.6% during the third quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock valued at $1,812,000 after acquiring an additional 3,760 shares during the period. Wedmont Private Capital raised its holdings in Marvell Technology by 10.5% during the third quarter. Wedmont Private Capital now owns 9,381 shares of the semiconductor company’s stock worth $692,000 after purchasing an additional 894 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its position in Marvell Technology by 38.9% in the third 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. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,361,430 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 7.2 %

NASDAQ MRVL opened at $110.62 on Friday. 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, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm’s fifty day simple moving average is $113.59 and its 200-day simple moving average is $88.68. The company has a market capitalization of $95.72 billion, a PE ratio of -65.07, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40.

Marvell Technology Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on MRVL shares. Melius Research raised Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Susquehanna boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. boosted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Melius assumed coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.