4,424 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Jackson Wealth Management LLC

Jackson Wealth Management LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,424 shares of the semiconductor company’s stock, valued at approximately $489,000.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in Marvell Technology by 1,481.8% during the third 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 holdings in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $33,000. Financial Life Planners acquired a new stake in Marvell Technology during the fourth quarter worth approximately $33,000. Finally, Whittier Trust Co. lifted its holdings in Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $109.69 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average price is $112.48 and its 200-day moving average price is $88.27. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given 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 0.22%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MRVL. UBS Group boosted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC increased their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Bank of America upped their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. TD Cowen lifted their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Evercore ISI raised their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Activity at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 7,755 shares of the company’s 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 37,755 shares of company stock valued at $4,361,430. Company insiders own 0.33% of the company’s stock.

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.