Everhart Financial Group Inc. Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Everhart Financial Group Inc. acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,958 shares of the semiconductor company's stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MRVL. ORG Partners LLC raised its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC purchased a new position in Marvell Technology during the fourth quarter worth about $33,000. Financial Life Planners purchased a new position in Marvell Technology during the fourth quarter worth about $33,000. GHP Investment Advisors Inc. boosted its holdings in Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 112 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after buying an additional 326 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Down 2.1 %

NASDAQ MRVL traded down $2.38 on Thursday, hitting $108.66. 9,386,248 shares of the stock were exchanged, compared to its average volume of 12,953,008. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a 50-day moving average price of $113.93 and a 200-day moving average price of $91.57. The company has a market cap of $94.03 billion, a PE ratio of -63.92, a PEG ratio of 1.59 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction 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 $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 over the last ninety days. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research report 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 report on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Melius started coverage on shares of Marvell Technology in a research report on Monday, January 27th. They issued a "buy" rating and a $188.00 target price on the stock. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $127.60.

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.