Warther Private Wealth LLC Buys New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Warther Private Wealth LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,075 shares of the semiconductor company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valley National Advisers Inc. lifted its position in Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after purchasing an additional 96 shares during the period. Waldron Private Wealth LLC lifted its holdings in shares of Marvell Technology by 3.6% in the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after buying an additional 103 shares during the period. Tsfg LLC grew its holdings in Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 111 shares during the period. GHP Investment Advisors Inc. raised its position in Marvell Technology by 48.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 112 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in Marvell Technology by 1.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,755 shares of company stock worth $4,361,430. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MRVL. Melius initiated coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup boosted their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. KeyCorp increased their price target on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Trading Down 3.3 %

NASDAQ:MRVL opened at $109.12 on Wednesday. The company’s 50 day moving average is $114.53 and its 200-day moving average is $89.94. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The firm has a market cap of $94.42 billion, a price-to-earnings ratio of -64.19, a P/E/G ratio of 1.77 and a beta of 1.40.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend 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.