3,500 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Wealth Effects LLC

Wealth Effects LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,500 shares of the semiconductor company’s stock, valued at approximately $387,000.

A number of other large investors have also added to or reduced their stakes in the company. ORG Partners LLC boosted 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 valued at $26,000 after acquiring an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new position in Marvell Technology during the fourth quarter valued at $33,000. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in the 3rd 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 purchased a new stake in shares of Marvell Technology during the 2nd quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Marvell Technology in the 2nd quarter valued at about $32,000. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s 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 transaction, the director now directly owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Down 19.3 %

NASDAQ:MRVL opened at $100.08 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The firm has a fifty day simple moving average of $110.34 and a 200-day simple moving average of $86.64.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Ratings Changes

MRVL has been the topic of a number of recent research reports. Needham & Company LLC upped their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Craig Hallum boosted their price objective 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. Morgan Stanley lifted their price target on shares of Marvell Technology from $102.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Finally, Cantor Fitzgerald increased their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.88.

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.