Jones Financial Companies Lllp Purchases 5,398 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Jones Financial Companies Lllp increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 55.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,109 shares of the semiconductor company’s stock after purchasing an additional 5,398 shares during the period. Jones Financial Companies Lllp’s holdings in Marvell Technology were worth $1,669,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC raised its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Centricity Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth approximately $26,000. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the fourth quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity

In related news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value 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. The trade was a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 over the last quarter. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Down 19.8 %

NASDAQ MRVL opened at $72.28 on Friday. The company has a market cap of $62.54 billion, a price-to-earnings ratio of -42.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. 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 business’s fifty day moving average is $110.00 and its 200 day moving average is $93.82.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Analyst Ratings Changes

Several analysts recently issued reports on MRVL shares. Piper Sandler reduced their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday. Benchmark reissued a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a research report on Thursday. Bank of America lowered their price target on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.68.

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.