National Wealth Management Group LLC Invests $1.04 Million in Marvell Technology, Inc. (NASDAQ:MRVL)

National Wealth Management Group 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 9,375 shares of the semiconductor company's stock, valued at approximately $1,035,000.

A number of other hedge funds have also recently bought and sold shares of MRVL. True Wealth Design LLC raised its stake in Marvell Technology by 1,481.8% during the third 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 period. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Marvell Technology Stock Performance

Shares of MRVL traded up $0.56 during midday trading on Wednesday, hitting $63.23. 13,036,853 shares of the stock traded hands, compared to its average volume of 12,936,634. 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, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The business's 50 day moving average price is $91.56 and its two-hundred day moving average price is $93.58. The firm has a market capitalization of $54.76 billion, a PE ratio of -37.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

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Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is -23.53%.

Analysts Set New Price Targets

Several research firms recently commented on MRVL. Citigroup cut their price target on shares of Marvell Technology from $136.00 to $122.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. William Blair raised shares of Marvell Technology to a "strong-buy" rating in a research report on Wednesday, February 5th. Benchmark restated a "buy" rating and set a $135.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Oppenheimer increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reduced their price target on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.44.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares of the company's stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,685 shares of company stock valued at $4,026,768. Insiders own 0.33% of the company's stock.

Marvell Technology 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.