Darden Wealth Group Inc Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Darden Wealth Group Inc purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,390 shares of the semiconductor company’s stock, valued at approximately $264,000.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC lifted its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the 4th quarter worth $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $49.43 on Friday. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of -29.08, a P/E/G ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $47.31 and a 1 year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $87.42 and a 200 day simple moving average of $93.08.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,185 shares of company stock valued at $3,744,268 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Piper Sandler decreased their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. TD Cowen lowered their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Citigroup cut their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

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.