Parisi Gray Wealth Management Has $1.36 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Parisi Gray Wealth Management raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 196.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,342 shares of the semiconductor company’s stock after purchasing an additional 8,181 shares during the quarter. Parisi Gray Wealth Management’s holdings in Marvell Technology were worth $1,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of MRVL. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC increased its stake 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 worth $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Marvell Technology during the 2nd quarter valued at approximately $32,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the transaction, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the completion of the transaction, the insider now directly owns 694,487 shares in the company, valued at approximately $55,906,203.50. The trade was a 17.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,000 shares of company stock valued at $15,163,420. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 0.7 %

Shares of MRVL traded up $0.83 on Monday, reaching $115.15. The stock had a trading volume of 9,599,076 shares, compared to its average volume of 10,792,062. 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 12-month low of $53.19 and a 12-month high of $126.15. The firm has a market capitalization of $99.64 billion, a price-to-earnings ratio of -67.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. The company has a 50-day simple moving average of $103.93 and a 200-day simple moving average of $82.98.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MRVL shares. Piper Sandler restated an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Cantor Fitzgerald increased their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday. Bank of America raised their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Evercore ISI upped their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology 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.