Sterling Investment Advisors Ltd. Invests $267,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Sterling Investment Advisors Ltd. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,415 shares of the semiconductor company’s stock, valued at approximately $267,000.

A number of other large investors also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC increased its holdings in Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares in the last quarter. Waldron Private Wealth LLC increased its position in shares of Marvell Technology by 3.6% during the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after purchasing an additional 103 shares in the last quarter. Tsfg LLC increased its position in shares of Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 111 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its position in shares of Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 112 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. B. Riley lifted their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Three investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the 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 $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $97.91 on Tuesday. The firm’s 50 day moving average is $113.05 and its two-hundred day moving average is $92.76. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The firm has a market capitalization 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 current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. 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 payout ratio is currently -14.12%.

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.