Artemis Wealth Advisors LLC Purchases New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Artemis Wealth Advisors LLC purchased a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,000 shares of the semiconductor company’s stock, valued at approximately $5,191,000. Marvell Technology comprises 0.9% of Artemis Wealth Advisors LLC’s holdings, making the stock its 11th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BankPlus Trust Department bought a new stake in Marvell Technology in the 4th quarter valued at about $258,000. Rothschild Investment LLC boosted its holdings in Marvell Technology by 1.4% in the 4th quarter. Rothschild Investment LLC now owns 69,266 shares of the semiconductor company’s stock valued at $7,650,000 after purchasing an additional 962 shares during the period. IFP Advisors Inc boosted its holdings in Marvell Technology by 14.5% in the 4th quarter. IFP Advisors Inc now owns 6,315 shares of the semiconductor company’s stock valued at $697,000 after purchasing an additional 801 shares during the period. Hardman Johnston Global Advisors LLC boosted its holdings in Marvell Technology by 38.7% in the 4th quarter. Hardman Johnston Global Advisors LLC now owns 107,410 shares of the semiconductor company’s stock valued at $11,863,000 after purchasing an additional 29,950 shares during the period. Finally, Midwest Capital Advisors LLC bought a new stake in Marvell Technology in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MRVL. 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 report on Monday, January 6th. B. Riley upped their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus upped their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Loop Capital upped their price target 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. Finally, Citigroup upped their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Price Performance

MRVL stock opened at $97.91 on Tuesday. The company has a fifty day moving average price of $113.05 and a 200-day moving average price of $92.76. The company has a market capitalization of $84.72 billion, a P/E ratio of -57.59, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Insider Activity

In other news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

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.