Thoroughbred Financial Services LLC Acquires 260 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Thoroughbred Financial Services LLC increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,304 shares of the semiconductor company’s stock after buying an additional 260 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Marvell Technology were worth $1,359,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MRVL. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology in the fourth quarter worth approximately $26,000. ORG Partners LLC grew its position in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Rialto Wealth Management LLC purchased a new stake in Marvell Technology during the 4th quarter valued at $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the sale, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brad W. Buss acquired 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now directly owns 87,113 shares of the company’s stock, valued at $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,185 shares of company stock worth $3,744,268. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, March 6th. Piper Sandler lowered their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Barclays dropped their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Raymond James set a $110.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Trading Down 11.2 %

Shares of MRVL opened at $49.43 on Friday. The stock has a market capitalization of $42.81 billion, a PE ratio of -29.08, a P/E/G ratio of 1.61 and a beta of 1.42. The company’s fifty day moving average is $87.42 and its 200 day moving average is $92.94. 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, Inc. has a fifty-two week low of $47.31 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.