19,169 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Laidlaw Wealth Management LLC

Laidlaw Wealth Management LLC acquired a new stake in shares of 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 & Exchange Commission. The institutional investor acquired 19,169 shares of the semiconductor company's stock, valued at approximately $2,117,000. Marvell Technology accounts for about 0.9% of Laidlaw Wealth Management LLC's holdings, making the stock its 28th largest holding.

A number of other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 326 shares during the last quarter. ORG Partners LLC grew its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 149 shares during the period. Kieckhefer Group LLC acquired a new position in Marvell Technology during the fourth quarter worth approximately $33,000. Financial Life Planners acquired a new position in shares of Marvell Technology in the 4th quarter valued at $33,000. Finally, Whittier Trust Co. grew its stake in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company's stock valued at $35,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Down 4.5 %

Shares of Marvell Technology stock traded down $4.86 during trading on Friday, reaching $103.85. The company had a trading volume of 11,006,714 shares, compared to its average volume of 12,895,910. The company has a market cap of $89.86 billion, a price-to-earnings ratio of -61.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm's fifty day moving average is $113.59 and its 200-day moving average is $92.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology's dividend payout ratio is presently -14.12%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Loop Capital lifted their target price on Marvell Technology from $95.00 to $110.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. StockNews.com raised Marvell Technology from a "sell" rating to a "hold" rating in a research note on Thursday, January 9th. Wells Fargo & Company boosted their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Citigroup raised their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, KeyCorp boosted their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology has a consensus rating of "Moderate Buy" and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is currently owned by corporate insiders.

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.