SeaCrest Wealth Management LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

SeaCrest Wealth Management LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 2,329 shares of the semiconductor company's stock, valued at approximately $257,000.

Several other institutional investors have also recently bought and sold shares of MRVL. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% during the third 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 last quarter. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock valued at $26,000 after buying an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Marvell Technology in the 2nd quarter worth about $32,000. Quarry LP bought a new stake in Marvell Technology during the second quarter worth about $32,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRVL. Morgan Stanley lifted their price target on Marvell Technology from $102.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. Wells Fargo & Company increased their price objective on Marvell Technology from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. TD Cowen upped their price target on Marvell Technology from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Oppenheimer boosted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, Marvell Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.08.

Marvell Technology Stock Up 6.1 %

NASDAQ MRVL traded up $7.18 during trading hours on Friday, reaching $124.76. 14,849,059 shares of the company's stock were exchanged, compared to its average volume of 13,008,617. 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 has a market capitalization of $107.95 billion, a price-to-earnings ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. The company's 50-day moving average is $106.70 and its two-hundred day moving average is $84.46. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. Marvell Technology's payout ratio is -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares of the company's stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the business's stock in a transaction 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. In the last ninety days, insiders have sold 37,755 shares of company stock valued at $4,099,650. 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.