Anchor Investment Management LLC Has $51,000 Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Anchor Investment Management LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 704 shares of the semiconductor company’s stock after selling 218 shares during the period. Anchor Investment Management LLC’s holdings in Marvell Technology were worth $51,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. True Wealth Design LLC lifted its position in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP bought a new stake in Marvell Technology during the second quarter worth approximately $32,000. Whittier Trust Co. grew its holdings in Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology in the third quarter valued at approximately $37,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In related news, CEO Matthew J. Murphy sold 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.29, for a total transaction of $439,740.00. Following the sale, the chief executive officer now directly owns 208,915 shares in the company, valued at $15,311,380.35. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, September 16th. The shares were sold at an average price of $73.87, for a total value of $110,805.00. Following the completion of the transaction, the chief financial officer now owns 111,753 shares of the company’s stock, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $14,076,540 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Loop Capital upped their price objective on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Craig Hallum raised their price target on Marvell Technology from $88.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Rosenblatt Securities boosted their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. B. Riley raised their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Barclays upped their price target on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.04.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $120.77 on Friday. The stock has a market capitalization of $104.50 billion, a price-to-earnings ratio of -71.04, a price-to-earnings-growth ratio of 3.72 and a beta of 1.46. The business’s fifty day moving average price is $89.98 and its two-hundred day moving average price is $76.81. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $121.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

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.