Jeppson Wealth Management LLC Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Jeppson Wealth Management LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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. AQR Capital Management LLC increased its stake in shares of Marvell Technology by 597.5% during the second quarter. AQR Capital Management LLC now owns 437,771 shares of the semiconductor company’s stock worth $30,600,000 after purchasing an additional 375,012 shares in the last quarter. Mackenzie Financial Corp increased its stake in Marvell Technology by 30.8% during the 2nd quarter. Mackenzie Financial Corp now owns 73,644 shares of the semiconductor company’s stock worth $5,148,000 after buying an additional 17,342 shares in the last quarter. Creative Planning raised its holdings in shares of Marvell Technology by 4.1% during the second quarter. Creative Planning now owns 75,454 shares of the semiconductor company’s stock valued at $5,274,000 after acquiring an additional 2,982 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Marvell Technology by 30.9% in the second quarter. NewEdge Advisors LLC now owns 129,643 shares of the semiconductor company’s stock valued at $9,062,000 after acquiring an additional 30,596 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Marvell Technology by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 249,422 shares of the semiconductor company’s stock worth $17,435,000 after acquiring an additional 27,553 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,755 shares of company stock worth $4,361,430. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent research reports. Loop Capital increased their price objective on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $120.00 price target (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Oppenheimer boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus raised their target price on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Craig Hallum upped their price target on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.88.

Marvell Technology Trading Down 19.3 %

Shares of MRVL stock opened at $100.08 on Tuesday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a 50 day moving average price of $110.34 and a 200 day moving average price of $86.64. 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 Announces Dividend

The business also recently disclosed 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. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is currently -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.