Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 489.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,886 shares of the semiconductor company’s stock after purchasing an additional 1,566 shares during the quarter. CoreCap Advisors LLC’s holdings in Marvell Technology were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intrepid Financial Planning Group LLC lifted its holdings in Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after buying an additional 90 shares during the last quarter. PDS Planning Inc lifted its holdings in Marvell Technology by 3.3% during the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after buying an additional 92 shares during the last quarter. Lodestone Wealth Management LLC lifted its holdings in 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. lifted its holdings in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL stock opened at $59.65 on Monday. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. 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’s 50 day moving average price is $61.19 and its 200 day moving average price is $89.40. The firm has a market cap of $51.53 billion, a P/E ratio of -35.09, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Analysts Set New Price Targets

Several analysts have commented on MRVL shares. 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 research note on Thursday, March 6th. Bank of America reduced their price objective on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, March 6th. Benchmark reduced their price objective on Marvell Technology from $135.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, TD Cowen reduced their price objective on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price of $110.30.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $60.00, for a total value of $90,000.00. Following the transaction, the chief financial officer now directly owns 124,348 shares in the company, valued at approximately $7,460,880. This represents a 1.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,890 shares of company stock valued at $2,027,938. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Company 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.