Elwood Capital Partners LP Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Elwood Capital Partners LP bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,500 shares of the semiconductor company’s stock, valued at approximately $1,381,000. Marvell Technology makes up approximately 1.4% of Elwood Capital Partners LP’s investment portfolio, making the stock its 15th largest holding.

Several other hedge funds have also recently modified their holdings of MRVL. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter worth about $26,000. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC bought a new position in Marvell Technology during the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Citigroup lowered their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus cut their price target on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. TD Cowen reduced their price target on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Needham & Company LLC dropped their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Three equities research 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 stock. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.44.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 7,755 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,685 shares of company stock valued at $4,026,768 in the last quarter. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Down 0.8 %

MRVL opened at $61.57 on Tuesday. The company has a market capitalization of $53.32 billion, a PE ratio of -36.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm has a 50-day simple moving average of $92.78 and a two-hundred day simple moving average of $93.66. 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 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

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.