2,052 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by LaSalle St. Investment Advisors LLC

LaSalle St. Investment Advisors LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,052 shares of the semiconductor company’s stock, valued at approximately $226,000.

A number of other hedge funds also recently made changes to their positions in MRVL. Intrepid Financial Planning Group LLC raised its stake in Marvell Technology by 0.3% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc raised its position in shares of Marvell Technology by 3.3% in the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 92 shares during the period. Lodestone Wealth Management LLC lifted its stake in shares of Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. grew its stake in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 97 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Bank of America dropped their target price on Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.48.

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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,185 shares of company stock worth $3,131,018. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $52.26 on Tuesday. The company has a market capitalization of $45.26 billion, a PE ratio of -30.74, a P/E/G ratio of 1.61 and a beta of 1.78. 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 stock has a 50-day moving average price of $78.58 and a two-hundred day moving average price of $92.05. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

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.