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

Daymark Wealth Partners LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,874 shares of the semiconductor company’s stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRVL. Dakota Wealth Management increased its position in Marvell Technology by 11.5% during the fourth quarter. Dakota Wealth Management now owns 14,100 shares of the semiconductor company’s stock worth $1,557,000 after buying an additional 1,454 shares during the period. Simon Quick Advisors LLC grew its position in shares of Marvell Technology by 9.7% during the fourth quarter. Simon Quick Advisors LLC now owns 3,131 shares of the semiconductor company’s stock worth $346,000 after acquiring an additional 276 shares during the last quarter. Enclave Advisors LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $304,000. ADE LLC acquired a new stake in Marvell Technology during the 4th quarter worth $225,000. Finally, Perpetual Ltd grew its position in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock worth $77,591,000 after purchasing an additional 682,457 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $124.02 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market cap of $107.31 billion, a price-to-earnings ratio of -72.95, a PEG ratio of 4.12 and a beta of 1.41. The company’s 50-day moving average price is $110.11 and its 200 day moving average price is $86.27. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid 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 0.19%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Wall Street Analysts Forecast Growth

MRVL has been the subject of several recent research reports. Craig Hallum increased their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Needham & Company LLC upped their price target on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America lifted 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, JPMorgan Chase & Co. upped their price objective on shares of Marvell Technology from $90.00 to $130.00 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 and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.38.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by corporate insiders.

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.