Marvell Technology, Inc. (NASDAQ:MRVL) Shares Purchased by Hemington Wealth Management

Hemington Wealth Management lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 122.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 768 shares of the semiconductor company’s stock after purchasing an additional 422 shares during the period. Hemington Wealth Management’s holdings in Marvell Technology were worth $84,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MRVL. True Wealth Design LLC raised its position in 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 acquiring an additional 326 shares in the last quarter. ORG Partners LLC lifted its stake 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 valued at $26,000 after purchasing an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth about $33,000. Financial Life Planners acquired a new position in Marvell Technology during the 4th quarter worth $33,000. Finally, Whittier Trust Co. grew its stake in shares of Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the sale, the executive vice president now directly owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,755 shares of company stock worth $4,361,430 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MRVL. UBS Group upped their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, KeyCorp raised their target price 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 equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Down 3.4 %

NASDAQ:MRVL opened at $105.42 on Thursday. The business has a fifty day moving average of $114.27 and a 200-day moving average of $90.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given 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 payout ratio is presently -14.12%.

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.