Principle Wealth Partners LLC Takes Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Principle Wealth Partners LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,038 shares of the semiconductor company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the fourth quarter valued at $33,000. Finally, Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 3.3 %

Shares of MRVL opened at $109.12 on Wednesday. The business’s 50 day moving average is $114.53 and its 200 day moving average is $89.94. The company 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. 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.

Marvell Technology Announces Dividend

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

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MRVL has been the topic of several recent analyst reports. Barclays increased their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Cantor Fitzgerald increased their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI increased their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Citigroup increased their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.