Darden Wealth Group Inc Invests $264,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Darden Wealth Group Inc purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,390 shares of the semiconductor company’s stock, valued at approximately $264,000.

Several other institutional investors have also added to or reduced their stakes in MRVL. Zweig DiMenna Associates LLC raised its holdings in shares of Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth $637,000. RFG Advisory LLC lifted its position in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Marvell Technology by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after purchasing an additional 535,203 shares during the period. Finally, Franchise Capital Ltd bought a new position in shares of Marvell Technology in the fourth quarter worth about $1,476,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MRVL shares. TD Cowen lowered their price objective 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. 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. Barclays reduced their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Melius started coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. Finally, StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 35,185 shares of company stock worth $3,744,268 over the last three months. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 11.2 %

Shares of MRVL opened at $49.43 on Friday. 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 firm has a 50-day moving average price of $87.42 and a 200 day moving average price of $93.08. Marvell Technology, Inc. has a 12-month low of $47.31 and a 12-month high of $127.48. The firm has a market capitalization of $42.81 billion, a P/E ratio of -29.08, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.