Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Raised by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC raised its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 5,322 shares of the semiconductor company’s stock after purchasing an additional 185 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Marvell Technology were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in MRVL. GAMMA Investing LLC grew its position in Marvell Technology by 13.7% during the third quarter. GAMMA Investing LLC now owns 7,333 shares of the semiconductor company’s stock valued at $529,000 after purchasing an additional 882 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of Marvell Technology by 9.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock worth $359,000 after acquiring an additional 418 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Marvell Technology by 34.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 17,966 shares of the semiconductor company’s stock worth $1,296,000 after buying an additional 4,626 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Marvell Technology during the 3rd quarter valued at $216,000. Finally, Eagle Wealth Strategies LLC acquired a new stake in Marvell Technology in the third quarter worth $380,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $116.46 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company’s 50-day moving average price is $113.00 and its 200-day moving average price is $88.47. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Needham & Company LLC increased their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

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.