By otakuyassine3@gmail.com 
Jeppson Wealth Management LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,730 shares of the semiconductor company’s stock, valued at approximately $302,000.
Other hedge funds have also modified their holdings of the company. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC raised its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Finally, Kieckhefer Group LLC purchased a new stake in Marvell Technology during the 4th quarter valued at $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays upped their target price on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating 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. Finally, Stifel Nicolaus lifted their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.88.
Check Out Our Latest Stock Analysis on MRVL
Insider Activity at Marvell Technology
In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $4,361,430 over the last quarter. Insiders own 0.33% of the company’s stock.
Marvell Technology Stock Down 19.3 %
NASDAQ MRVL opened at $100.08 on Tuesday. The stock’s fifty day moving average price is $110.34 and its 200 day moving average price is $86.64. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.
Marvell Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.
Marvell Technology 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.
Further Reading
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