Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Assetmark Inc.

Assetmark Inc. increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,091 shares of the semiconductor company's stock after purchasing an additional 3,894 shares during the period. Assetmark Inc.'s holdings in Marvell Technology were worth $4,759,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC raised its position 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 worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC raised its position 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 purchasing an additional 149 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth about $26,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth about $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last 90 days. Company insiders own 0.33% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. Summit Insights downgraded shares of Marvell Technology from a "buy" rating to a "hold" rating in a report on Thursday. Loop Capital upgraded shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Thursday. Piper Sandler cut their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday. UBS Group increased their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Craig Hallum increased their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a "buy" rating in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Marvell Technology has a consensus rating of "Moderate Buy" and an average price target of $121.68.

Marvell Technology Stock Down 2.0 %

MRVL stock traded down $1.44 during midday trading on Friday, hitting $70.84. The company's stock had a trading volume of 38,787,463 shares, compared to its average volume of 12,675,750. 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, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The firm has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. The firm has a 50-day simple moving average of $108.27 and a 200-day simple moving average of $94.00.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology's dividend payout ratio is presently -23.53%.

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.