Versant Capital Management Inc Purchases 352 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Versant Capital Management Inc boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 57.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970 shares of the semiconductor company’s stock after acquiring an additional 352 shares during the period. Versant Capital Management Inc’s holdings in Marvell Technology were worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC increased 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 buying an additional 326 shares during the period. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the 2nd quarter worth $32,000. Whittier Trust Co. lifted its stake in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in Marvell Technology during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of several analyst reports. TD Cowen increased their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Oppenheimer lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Susquehanna increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. Finally, Rosenblatt Securities boosted their target price on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $119.76.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $118.18 on Friday. The company has a market capitalization of $102.26 billion, a PE ratio of -69.52, 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. The company’s fifty day moving average price is $100.53 and its 200 day moving average price is $81.26. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $126.15.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders 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%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $80.50, for a total value of $120,750.00. Following the sale, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Murphy acquired 13,000 shares of Marvell Technology stock in a transaction on Monday, October 14th. The shares were bought at an average price of $77.63 per share, with a total value of $1,009,190.00. Following the completion of the transaction, the chief executive officer now directly owns 221,915 shares of the company’s stock, valued at $17,227,261.45. This trade represents a 6.22 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 172,500 shares of company stock worth $14,267,670 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.