Axxcess Wealth Management LLC Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Axxcess Wealth Management LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,217 shares of the semiconductor company’s stock after purchasing an additional 279 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Marvell Technology were worth $687,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MRVL. True Wealth Design LLC boosted its holdings in Marvell Technology by 1,481.8% in the 3rd 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 in the last quarter. ORG Partners LLC boosted its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter worth $27,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MRVL. Piper Sandler reduced their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Bank of America lowered their target price on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Cantor Fitzgerald lifted their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Activity at Marvell Technology

In other news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the sale, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at approximately $5,639,310.73. This trade represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,685 shares of company stock worth $4,026,768. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $70.39 on Friday. The company has a market cap of $60.96 billion, a PE ratio of -41.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. 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 50-day moving average price of $99.06 and a two-hundred day moving average price of $93.52. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.34%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.