BankPlus Trust Department Takes $258,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

BankPlus Trust Department bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,338 shares of the semiconductor company’s stock, valued at approximately $258,000.

Several other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC grew its position in shares of Marvell Technology by 1.4% in the fourth quarter. Rothschild Investment LLC now owns 69,266 shares of the semiconductor company’s stock valued at $7,650,000 after purchasing an additional 962 shares during the period. IFP Advisors Inc boosted its position in Marvell Technology by 14.5% during the fourth quarter. IFP Advisors Inc now owns 6,315 shares of the semiconductor company’s stock worth $697,000 after acquiring an additional 801 shares during the last quarter. Hardman Johnston Global Advisors LLC boosted its position in Marvell Technology by 38.7% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 107,410 shares of the semiconductor company’s stock worth $11,863,000 after acquiring an additional 29,950 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Marvell Technology during the fourth quarter worth about $56,000. Finally, Colonial River Investments LLC boosted its position in Marvell Technology by 4.1% during the fourth quarter. Colonial River Investments LLC now owns 6,217 shares of the semiconductor company’s stock worth $687,000 after acquiring an additional 243 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of MRVL opened at $97.91 on Tuesday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm’s 50 day moving average price is $113.05 and its 200 day moving average price is $92.76. The company has a market cap of $84.72 billion, a P/E ratio of -57.59, a PEG ratio of 1.61 and a beta of 1.40. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Cantor Fitzgerald boosted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. 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. Finally, Barclays reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price 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.