Cypress Wealth Services LLC Makes New $250,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Cypress Wealth Services LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,266 shares of the semiconductor company's stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also modified their holdings of MRVL. Davidson Kempner Capital Management LP lifted its stake in Marvell Technology by 26.5% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company's stock valued at $17,482,000 after buying an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. purchased a new stake in Marvell Technology in the 3rd quarter valued at approximately $16,435,000. Charles Schwab Investment Management Inc. lifted its stake in Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company's stock valued at $235,247,000 after buying an additional 66,654 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company's stock valued at $206,418,000 after buying an additional 535,203 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new stake in Marvell Technology in the 4th quarter valued at approximately $1,476,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup upped their target price on Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Piper Sandler reissued an "overweight" rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Oppenheimer increased their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Loop Capital increased their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Finally, Bank of America increased their price target on Marvell Technology from $108.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Marvell Technology currently has an average rating of "Moderate Buy" and an average price target of $123.08.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the transaction, the executive vice president now owns 109,244 shares of the company's stock, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $4,099,650 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Marvell Technology Stock Up 6.1 %

Shares of Marvell Technology stock traded up $7.18 during trading hours on Friday, hitting $124.76. 14,849,059 shares of the company's stock traded hands, compared to its average volume of 13,008,617. The stock has a 50 day simple moving average of $106.70 and a 200-day simple moving average of $84.46. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $107.95 billion, a PE ratio of -73.39, a PEG ratio of 3.76 and a beta of 1.41. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology's dividend payout ratio is presently -14.12%.

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.