Oppenheimer & Co. Inc. Has $28.44 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Oppenheimer & Co. Inc. lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,488 shares of the semiconductor company’s stock after selling 13,407 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Marvell Technology were worth $28,440,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MRVL. Swedbank AB raised its stake in Marvell Technology by 1.0% during 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 period. International Assets Investment Management LLC raised its stake in shares of Marvell Technology by 7,142.2% in the 3rd quarter. International Assets Investment Management LLC now owns 239,934 shares of the semiconductor company’s stock valued at $17,304,000 after purchasing an additional 236,621 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Marvell Technology by 134.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 133,995 shares of the semiconductor company’s stock valued at $9,664,000 after purchasing an additional 76,745 shares during the period. MONECO Advisors LLC acquired a new stake in shares of Marvell Technology in the 3rd quarter valued at about $285,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Marvell Technology in the 3rd quarter valued at about $273,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Up 2.0 %

Shares of NASDAQ:MRVL opened at $94.90 on Thursday. The company has a fifty day moving average of $112.46 and a 200-day moving average of $93.00. The company has a market capitalization of $82.12 billion, a PE ratio of -55.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. 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, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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 note on Wednesday, December 4th. KeyCorp lifted their target price on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group lifted their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, Rosenblatt Securities lifted their target price on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Company 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.