Forte Capital LLC ADV Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Forte Capital LLC ADV bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,233 shares of the semiconductor company’s stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lodestone Wealth Management LLC boosted its holdings in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares during the last quarter. Waldron Private Wealth LLC boosted its holdings in shares of Marvell Technology by 3.6% in the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after purchasing an additional 103 shares during the last quarter. Tsfg LLC boosted its holdings in shares of Marvell Technology by 7.5% in the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 112 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MRVL. Stifel Nicolaus lifted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and issued a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. JPMorgan Chase & Co. lifted their target price on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Craig Hallum lifted their target price on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC lifted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $103.85 on Friday. The firm has a market cap of $89.86 billion, a PE ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. The firm’s 50-day simple moving average is $113.59 and its 200-day simple moving average is $92.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.