Marks Group Wealth Management Inc Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Marks Group Wealth Management Inc bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,611 shares of the semiconductor company’s stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC raised 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 during the last quarter. Kieckhefer Group LLC acquired a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Financial Life Planners purchased a new position in Marvell Technology during the 4th quarter worth approximately $33,000. GHP Investment Advisors Inc. lifted its stake in Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 112 shares during the period. Finally, True Wealth Design LLC boosted its holdings 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 valued at $25,000 after acquiring an additional 326 shares during the last quarter. Institutional investors and hedge funds 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 Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares in the company, valued at approximately $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, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. 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. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the subject of several recent research reports. Loop Capital raised their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. KeyCorp raised their target price on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price target on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Down 3.4 %

Shares of Marvell Technology stock opened at $105.42 on Thursday. The business has a 50 day simple moving average of $114.27 and a two-hundred day simple moving average of $90.05. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.