RWA Wealth Partners LLC Increases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

RWA Wealth Partners LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,147 shares of the semiconductor company’s stock after buying an additional 1,580 shares during the period. RWA Wealth Partners LLC’s holdings in Marvell Technology were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MRVL. Centricity Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter worth about $26,000. ORG Partners LLC boosted its holdings 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 buying an additional 149 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology during the fourth quarter valued at approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent research reports. Raymond James set a $110.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their price target on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Citigroup decreased their price objective on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Roth Capital set a $100.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Three investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Stock Down 0.8 %

Shares of NASDAQ:MRVL opened at $61.57 on Tuesday. The company has a market cap of $53.32 billion, a price-to-earnings ratio of -36.22, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $92.78 and a 200 day moving average price of $93.66.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is -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.