Marks Group Wealth Management Inc Invests $288,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Marks Group Wealth Management Inc purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,611 shares of the semiconductor company’s stock, valued at approximately $288,000.

A number of other institutional investors also recently bought and sold shares of MRVL. Gladstone Institutional Advisory LLC raised its stake in shares of Marvell Technology by 1.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 18,844 shares of the semiconductor company’s stock valued at $2,081,000 after acquiring an additional 195 shares during the period. Schear Investment Advisers LLC boosted its stake in shares of Marvell Technology by 5.6% during the 4th quarter. Schear Investment Advisers LLC now owns 28,027 shares of the semiconductor company’s stock worth $3,096,000 after purchasing an additional 1,495 shares during the period. Warther Private Wealth LLC bought a new position in Marvell Technology during the 4th quarter valued at about $229,000. L. Roy Papp & Associates LLP raised its position in Marvell Technology by 0.3% in the 4th quarter. L. Roy Papp & Associates LLP now owns 107,895 shares of the semiconductor company’s stock worth $11,917,000 after purchasing an additional 276 shares during the period. Finally, Compound Global Advisors LLC bought a new stake in Marvell Technology in the fourth quarter worth about $304,000. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Rosenblatt Securities upped their target price on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group lifted their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, KeyCorp lifted their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Down 3.4 %

NASDAQ:MRVL opened at $105.42 on Thursday. The company’s 50-day simple moving average is $114.27 and its 200-day simple moving average is $90.05. 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, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’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 sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s 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 transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is currently owned by insiders.

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.