Parisi Gray Wealth Management Buys 8,181 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

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

Other large investors have also recently bought and sold shares of the company. Miracle Mile Advisors LLC raised its stake in shares of Marvell Technology by 0.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 24,773 shares of the semiconductor company’s stock worth $2,736,000 after acquiring an additional 147 shares during the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $2,419,000. Sunflower Bank N.A. raised its position in shares of Marvell Technology by 4.8% during the fourth quarter. Sunflower Bank N.A. now owns 3,003 shares of the semiconductor company’s stock worth $332,000 after acquiring an additional 138 shares during the last quarter. Friedenthal Financial acquired a new position in Marvell Technology during the 4th quarter valued at about $57,000. Finally, Sivia Capital Partners LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $206,000. 83.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred 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 sale, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $120,750.00. Following the completion of the sale, the chief financial officer now directly owns 110,253 shares in the company, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,000 shares of company stock worth $15,163,420. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MRVL shares. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday. TD Cowen boosted their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America increased their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Loop Capital boosted their target price on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Citigroup raised their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Stock Performance

Marvell Technology stock traded up $0.83 during midday trading on Monday, hitting $115.15. The company’s stock had a trading volume of 9,599,076 shares, compared to its average volume of 10,792,062. The company has a 50-day moving average price of $103.93 and a two-hundred day moving average price of $82.98. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The company has a market cap of $99.64 billion, a price-to-earnings ratio of -67.73, a PEG ratio of 4.03 and a beta of 1.41. 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 business also recently announced 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 0.21%. Marvell Technology’s payout ratio is -14.12%.

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.