Howe & Rusling Inc. Purchases 427 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Howe & Rusling Inc. grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,362 shares of the semiconductor company’s stock after purchasing an additional 427 shares during the quarter. Howe & Rusling Inc.’s holdings in Marvell Technology were worth $371,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MRVL. Cerity Partners LLC lifted its stake in Marvell Technology by 84.3% in the third quarter. Cerity Partners LLC now owns 61,016 shares of the semiconductor company’s stock valued at $4,401,000 after buying an additional 27,902 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Marvell Technology during the third quarter worth $516,000. D.A. Davidson & CO. grew its holdings in Marvell Technology by 8.5% in the third quarter. D.A. Davidson & CO. now owns 60,056 shares of the semiconductor company’s stock worth $4,331,000 after purchasing an additional 4,718 shares during the period. Townsquare Capital LLC grew its holdings in Marvell Technology by 54.9% in the third quarter. Townsquare Capital LLC now owns 11,669 shares of the semiconductor company’s stock worth $842,000 after purchasing an additional 4,136 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in Marvell Technology in the third quarter valued at $215,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 2.8 %

NASDAQ:MRVL opened at $64.86 on Friday. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $95.30 and its 200 day moving average is $93.52. The stock has a market capitalization of $56.17 billion, a PE ratio of -38.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

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 paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. Marvell Technology’s payout ratio is presently -23.53%.

Analyst Ratings Changes

MRVL has been the subject of several research reports. The Goldman Sachs Group raised their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Citigroup reduced their price objective on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. UBS Group upped their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays cut their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity

In related news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their position. The transaction 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 business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,685 shares of company stock valued at $4,026,768 in the last 90 days. Insiders own 0.33% of the company’s stock.

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.