Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,025 shares of the semiconductor company’s stock after acquiring an additional 27,148 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Marvell Technology were worth $39,433,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% in 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 in the last quarter. ORG Partners LLC grew its position 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 in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $26,000. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MRVL. UBS Group upped their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald upped their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company increased their price objective on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Melius assumed coverage on Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 6.5 %

Shares of NASDAQ MRVL opened at $85.83 on Tuesday. The stock has a market cap of $74.27 billion, a P/E ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The business’s fifty day simple moving average is $111.63 and its 200-day simple moving average is $93.59.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was 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.