Level Four Advisory Services LLC Grows Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Level Four Advisory Services LLC lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 51.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,171 shares of the semiconductor company’s stock after acquiring an additional 2,450 shares during the period. Level Four Advisory Services LLC’s holdings in Marvell Technology were worth $792,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Townsquare Capital LLC increased its stake in Marvell Technology by 54.9% during the 3rd quarter. Townsquare Capital LLC now owns 11,669 shares of the semiconductor company’s stock valued at $842,000 after purchasing an additional 4,136 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Marvell Technology by 137.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 6,939 shares of the semiconductor company’s stock valued at $500,000 after acquiring an additional 4,011 shares during the period. Captrust Financial Advisors raised its stake in Marvell Technology by 3.5% in the 3rd quarter. Captrust Financial Advisors now owns 37,040 shares of the semiconductor company’s stock worth $2,671,000 after acquiring an additional 1,260 shares during the last quarter. True Wealth Design LLC lifted its position in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Marvell Technology during the 3rd quarter valued at about $7,395,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Down 4.3 %

Shares of MRVL opened at $62.04 on Monday. The stock has a 50 day moving average price of $94.05 and a 200 day moving average price of $93.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of -36.49, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently declared 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 dividend payout ratio is currently -23.53%.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Barclays reduced their price target on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. TD Cowen dropped their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Melius initiated coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Finally, Evercore ISI increased their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.44.

About Marvell Technology

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.