Sunflower Bank N.A. Has $332,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Sunflower Bank N.A. raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,003 shares of the semiconductor company’s stock after buying an additional 138 shares during the quarter. Sunflower Bank N.A.’s holdings in Marvell Technology were worth $332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC boosted its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Quarry LP acquired a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. 83.51% of the stock is owned by institutional investors.

Insider Activity at Marvell Technology

In other news, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the transaction, the chief financial officer now directly owns 110,253 shares in the company, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,000 shares of company stock worth $15,163,420. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MRVL shares. Benchmark reissued a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. B. Riley increased their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Evercore ISI increased their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Susquehanna boosted their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Stock Performance

MRVL traded up $0.83 during trading hours on Monday, reaching $115.15. The company’s stock had a trading volume of 9,596,626 shares, compared to its average volume of 10,792,062. The company’s 50-day moving average is $103.93 and its 200-day moving average is $82.98. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $126.15. The firm has a market cap of $99.64 billion, a PE ratio of -67.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -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.