Laidlaw Wealth Management LLC Invests $2.12 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

Laidlaw Wealth Management LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, Holdings Channel reports. The fund acquired 19,169 shares of the semiconductor company’s stock, valued at approximately $2,117,000. Marvell Technology comprises approximately 0.9% of Laidlaw Wealth Management LLC’s investment portfolio, making the stock its 28th largest position.

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

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on MRVL shares. UBS Group increased their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus increased their target price on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $107.29 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The business has a 50-day simple moving average of $113.93 and a two-hundred day simple moving average of $91.10. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week 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 issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio 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.