Kestra Private Wealth Services LLC Acquires 9,300 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Kestra Private Wealth Services LLC increased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 105.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,082 shares of the semiconductor company’s stock after acquiring an additional 9,300 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Marvell Technology were worth $1,997,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MRVL. Vaughan Nelson Investment Management L.P. increased its holdings in Marvell Technology by 26.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 980,065 shares of the semiconductor company’s stock valued at $108,248,000 after buying an additional 204,615 shares during the period. Stephens Inc. AR increased its holdings in Marvell Technology by 19.6% in the 4th quarter. Stephens Inc. AR now owns 10,055 shares of the semiconductor company’s stock valued at $1,111,000 after buying an additional 1,648 shares during the period. Stephens Investment Management Group LLC increased its holdings in Marvell Technology by 7.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 256,707 shares of the semiconductor company’s stock valued at $28,353,000 after buying an additional 16,771 shares during the period. Quotient Wealth Partners LLC bought a new position in Marvell Technology in the 4th quarter valued at about $282,000. Finally, Empowered Funds LLC increased its holdings in Marvell Technology by 15.9% in the 4th quarter. Empowered Funds LLC now owns 47,636 shares of the semiconductor company’s stock valued at $5,261,000 after buying an additional 6,536 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $109.12 on Wednesday. The firm has a market capitalization of $94.42 billion, a PE ratio of -64.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. The firm has a fifty day simple moving average of $114.53 and a two-hundred day simple moving average of $89.94. The company has a current ratio of 1.60, a quick ratio of 1.11 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.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Ratings Changes

MRVL has been the topic of a number of research analyst reports. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Cantor Fitzgerald raised their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. B. Riley raised their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Three equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.