Executive Wealth Management LLC Acquires Shares of 27,436 Marvell Technology, Inc. (NASDAQ:MRVL)

Executive Wealth Management LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,436 shares of the semiconductor company's stock, valued at approximately $1,979,000.

A number of other large investors also recently modified their holdings of MRVL. True Wealth Design LLC lifted its position 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 worth $25,000 after purchasing an additional 326 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology in the second quarter valued at approximately $32,000. Quarry LP bought a new position in Marvell Technology in the second quarter valued at approximately $32,000. Whittier Trust Co. boosted its stake in Marvell Technology by 74.5% in 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 during the last quarter. Finally, Briaud Financial Planning Inc bought a new position in Marvell Technology in the third quarter valued at approximately $43,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Down 0.3 %

MRVL stock traded down $0.35 during midday trading on Tuesday, hitting $106.68. The company's stock had a trading volume of 13,888,935 shares, compared to its average volume of 12,348,940. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a twelve month low of $52.89 and a twelve month high of $119.88. The company's fifty day moving average price is $87.51 and its 200 day moving average price is $76.04. The stock has a market capitalization of $92.31 billion, a P/E ratio of -62.75, a PEG ratio of 3.79 and a beta of 1.46.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.24 annualized dividend and a yield of 0.22%. Marvell Technology's payout ratio is currently -14.12%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Craig Hallum raised their price objective on shares of Marvell Technology from $88.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Roth Mkm reaffirmed a "buy" rating and issued a $95.00 price objective on shares of Marvell Technology in a research note on Friday, August 30th. UBS Group raised their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Barclays raised their price objective on shares of Marvell Technology from $85.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $119.04.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $73.87, for a total transaction of $110,805.00. Following the completion of the sale, the chief financial officer now owns 111,753 shares of the company's stock, valued at approximately $8,255,194.11. The trade was a 1.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Muhammad Raghib Hussain sold 150,000 shares of Marvell Technology stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total transaction of $12,075,000.00. Following the sale, the insider now directly owns 694,487 shares of the company's stock, valued at $55,906,203.50. The trade was a 17.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock worth $20,899,260 in the last ninety days. 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.