Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,578 shares of the semiconductor company’s stock after acquiring an additional 9,438 shares during the period. Marvell Technology accounts for about 1.3% of Smith Salley Wealth Management’s holdings, making the stock its 23rd biggest position. Smith Salley Wealth Management’s holdings in Marvell Technology were worth $19,503,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MRVL. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% in 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. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $33,000. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Quarry LP acquired a new stake in Marvell Technology in the second quarter valued at $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Marvell Technology in the 2nd quarter valued at about $32,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MRVL. Craig Hallum raised their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. UBS Group lifted their price target on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup boosted their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus increased their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC lifted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.08.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock valued at $4,099,650. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 6.1 %

Marvell Technology stock opened at $124.76 on Friday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. 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 firm has a market capitalization of $107.95 billion, a P/E ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. The company has a 50-day simple moving average of $106.70 and a 200-day simple moving average of $84.55.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s payout ratio is -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.