Wealth Effects LLC Invests $387,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Wealth Effects LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,500 shares of the semiconductor company's stock, valued at approximately $387,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC lifted 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 acquiring an additional 149 shares during the period. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the 4th quarter worth approximately $33,000. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company's stock worth $25,000 after buying an additional 326 shares during the last quarter. Quarry LP bought a new position in Marvell Technology in the second quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Marvell Technology during the 2nd quarter worth $32,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MRVL shares. Citigroup upped their price objective on Marvell Technology from $91.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. KeyCorp upped their price target on Marvell Technology from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. B. Riley increased their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald raised their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $127.60.

Marvell Technology Price Performance

Marvell Technology stock traded up $3.55 during mid-day trading on Tuesday, reaching $103.88. 20,309,752 shares of the company's stock traded hands, compared to its average volume of 12,994,049. The company has a market cap of $89.89 billion, a price-to-earnings ratio of -61.11, a PEG ratio of 4.12 and a beta of 1.41. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $110.34 and a two-hundred day moving average of $86.64.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Marvell Technology's dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $4,361,430 in the last quarter. 0.33% of the stock is owned by 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.