Accurate Wealth Management LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,450 shares of the semiconductor company’s stock, valued at approximately $280,000.
Other hedge funds have also bought and sold shares of the company. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% during 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 in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying an additional 326 shares in the last quarter. Quarry LP bought a new position in Marvell Technology during the 2nd quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the 2nd quarter valued at $32,000. 83.51% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
MRVL has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI raised their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Cantor Fitzgerald lifted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their target price on Marvell Technology from $110.00 to $115.00 and gave the stock 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 company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $121.68.
Marvell Technology Stock Performance
NASDAQ MRVL opened at $117.58 on Friday. The company has a market capitalization of $101.74 billion, a price-to-earnings ratio of -69.16, a PEG ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. The stock has a fifty day simple moving average of $106.09 and a 200 day simple moving average of $84.09. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.
Marvell Technology Dividend Announcement
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 given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.
Insider Buying and Selling
In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at approximately $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,500 shares of company stock valued at $2,967,670 over the last ninety days. 0.33% of the stock is owned by company insiders.
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.
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