Elwood Capital Partners LP Purchases New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Elwood Capital Partners LP bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,500 shares of the semiconductor company's stock, valued at approximately $1,381,000. Marvell Technology accounts for about 1.4% of Elwood Capital Partners LP's holdings, making the stock its 15th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its stake in Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after buying an additional 326 shares during the period. ORG Partners LLC boosted its holdings in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth approximately $33,000. Institutional investors own 83.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup cut their price target on shares of Marvell Technology from $136.00 to $122.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. UBS Group lifted their price target on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Susquehanna upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the company a "positive" rating in a research note on Wednesday, December 4th. Raymond James set a $110.00 price target on Marvell Technology in a research note on Thursday, March 6th. Finally, Needham & Company LLC reduced their price objective on shares of Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $120.44.

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Marvell Technology Trading Up 0.9 %

Shares of MRVL stock traded up $0.56 during mid-day trading on Wednesday, hitting $63.23. The company's stock had a trading volume of 13,036,853 shares, compared to its average volume of 12,936,678. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week 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 company's fifty day simple moving average is $90.32 and its 200-day simple moving average is $93.37. The company has a market cap of $54.76 billion, a PE ratio of -37.19, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The firm also recently declared 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 dividend yield of 0.38%. The ex-dividend date is Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

Insider Activity

In related news, EVP Mark Casper sold 7,755 shares of the business's 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the company's stock in a transaction that occurred on 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 directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 in the last quarter. 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.