Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by GeoWealth Management LLC

GeoWealth Management LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 266.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,757 shares of the semiconductor company’s stock after purchasing an additional 2,733 shares during the period. GeoWealth Management LLC’s holdings in Marvell Technology were worth $415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zweig DiMenna Associates LLC grew its stake in shares of Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after acquiring an additional 12,700 shares in the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth approximately $637,000. RFG Advisory LLC boosted its stake in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Franchise Capital Ltd bought a new position in shares of Marvell Technology during the fourth quarter worth about $1,476,000. Finally, United Asset Strategies Inc. increased its holdings in Marvell Technology by 7.1% in the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock valued at $24,287,000 after buying an additional 14,547 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

Shares of MRVL opened at $49.38 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a market capitalization of $42.77 billion, a price-to-earnings ratio of -29.05, a P/E/G ratio of 1.61 and a beta of 1.78. The business’s 50-day moving average is $72.60 and its 200-day moving average is $91.34. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Analysts Set New Price Targets

Several brokerages have recently commented on MRVL. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Bank of America lowered their price objective on shares of Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC cut their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Roth Capital set a $100.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group boosted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Activity

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,930 shares of company stock worth $1,999,038 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

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.