Lee Danner & Bass Inc. Makes New $35,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Lee Danner & Bass Inc. bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 320 shares of the semiconductor company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC lifted its holdings in shares of 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 in the last quarter. ORG Partners LLC raised its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $27,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter valued at approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRVL. Raymond James set a $110.00 target price on Marvell Technology in a research report on Thursday, March 6th. KeyCorp dropped their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Benchmark reissued a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Susquehanna lifted their target price on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Price Performance

Shares of MRVL stock opened at $70.39 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a market cap of $60.96 billion, a P/E ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. The business has a fifty day simple moving average of $99.06 and a 200 day simple moving average of $93.85.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s payout ratio is presently -23.53%.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $412,980.00. Following the completion of the sale, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at approximately $5,639,310.73. The trade was a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.