Xcel Wealth Management LLC Has $453,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Xcel Wealth Management LLC increased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,100 shares of the semiconductor company’s stock after buying an additional 300 shares during the quarter. Xcel Wealth Management LLC’s holdings in Marvell Technology were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB boosted its holdings in Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after acquiring an additional 23,680 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Marvell Technology by 23.1% in the third quarter. First Trust Direct Indexing L.P. now owns 13,759 shares of the semiconductor company’s stock valued at $992,000 after acquiring an additional 2,584 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Marvell Technology by 34.3% in the third quarter. Stephens Investment Management Group LLC now owns 239,936 shares of the semiconductor company’s stock valued at $17,304,000 after acquiring an additional 61,307 shares during the last quarter. Stephens Inc. AR boosted its holdings in Marvell Technology by 16.2% in the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock valued at $606,000 after acquiring an additional 1,175 shares during the last quarter. Finally, Americana Partners LLC bought a new stake in Marvell Technology in the third quarter valued at approximately $315,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $91.82 on Friday. The company has a market capitalization of $79.45 billion, a PE ratio of -54.01, a PEG ratio of 1.61 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $112.03 and its 200-day moving average price is $92.96. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed 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 was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Activity

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock valued at $4,330,980 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Oppenheimer upped their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Evercore ISI upped their target price on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. KeyCorp increased their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Company 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.