CIBC Private Wealth Group LLC Has $176.71 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

CIBC Private Wealth Group LLC increased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 150.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,494,622 shares of the semiconductor company’s stock after purchasing an additional 897,839 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Marvell Technology were worth $176,709,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC grew its holdings in shares of Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares in the last quarter. PDS Planning Inc increased its position in shares of Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 92 shares during the last quarter. Lodestone Wealth Management LLC raised its stake in shares of Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $62.04 on Friday. The firm has a market cap of $53.73 billion, a PE ratio of -36.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. 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’s fifty day moving average price is $94.05 and its two-hundred day moving average price is $93.62. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. 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 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on MRVL shares. Bank of America decreased their price objective on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Citigroup reduced their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald upped their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Needham & Company LLC dropped their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Three research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

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.