2,360 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Concentrum Wealth Management

Concentrum Wealth Management purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,360 shares of the semiconductor company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Norges Bank purchased a new position in Marvell Technology during the 4th quarter worth $1,138,354,000. GQG Partners LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at about $802,410,000. Wellington Management Group LLP grew its position in Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Marvell Technology in the 4th quarter valued at about $366,896,000. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Marvell Technology by 98.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,100,825 shares of the semiconductor company’s stock worth $452,936,000 after buying an additional 2,034,353 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on MRVL shares. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Rosenblatt Securities restated a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. TD Cowen lowered their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Citigroup reduced their target price on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Roth Capital set a $100.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,185 shares of company stock valued at $3,131,018 over the last 90 days. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Down 11.2 %

Shares of Marvell Technology stock opened at $49.43 on Monday. The company has a 50 day simple moving average of $87.42 and a two-hundred day simple moving average of $93.23. The firm has a market cap of $42.81 billion, a PE ratio of -29.08, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $46.50 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Announces Dividend

The business 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 $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.49%. 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.