Wealth Effects LLC Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Wealth Effects LLC acquired a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,500 shares of the semiconductor company’s stock, valued at approximately $387,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC increased its stake in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the second quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of Marvell Technology in the 2nd quarter worth approximately $32,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of several analyst reports. Evercore ISI boosted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. KeyCorp upped their price target on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $127.88.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. This represents a 13.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by company insiders.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $100.08 on Tuesday. 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 business has a fifty day moving average price of $110.34 and a 200-day moving average price of $86.64. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Marvell Technology’s payout ratio is currently -14.12%.

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.