Wellspring Financial Advisors LLC Acquires Shares of 2,218 Marvell Technology, Inc. (NASDAQ:MRVL)

Wellspring Financial Advisors LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,218 shares of the semiconductor company’s stock, valued at approximately $245,000.

Several other hedge funds have also recently made changes to their positions in MRVL. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at about $26,000. ORG Partners LLC increased 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 worth $26,000 after purchasing an additional 149 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter valued at approximately $27,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners bought a new stake in Marvell Technology during the 4th quarter valued at $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $49.43 on Monday. The company has a market capitalization of $42.81 billion, a P/E ratio of -29.08, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a fifty-two week low of $46.50 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a 50 day moving average price of $87.42 and a two-hundred day moving average price of $93.23.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,185 shares of company stock worth $3,131,018. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America dropped their target price on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday, March 6th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. 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 stock. According to MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.44.

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.