Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,644 shares of the semiconductor company’s stock after buying an additional 504 shares during the period. Sax Wealth Advisors LLC’s holdings in Marvell Technology were worth $1,286,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Federated Hermes Inc. grew its stake in Marvell Technology by 21.3% during the 2nd quarter. Federated Hermes Inc. now owns 49,412 shares of the semiconductor company’s stock valued at $3,454,000 after purchasing an additional 8,666 shares during the last quarter. Argent Trust Co lifted its holdings in shares of Marvell Technology by 4.2% during the second quarter. Argent Trust Co now owns 6,753 shares of the semiconductor company’s stock worth $472,000 after purchasing an additional 275 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Marvell Technology by 21.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company’s stock valued at $2,344,000 after buying an additional 5,969 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Marvell Technology by 17.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 58,531 shares of the semiconductor company’s stock worth $4,075,000 after buying an additional 8,823 shares during the period. Finally, XTX Topco Ltd increased its holdings in Marvell Technology by 239.0% in the 2nd quarter. XTX Topco Ltd now owns 23,373 shares of the semiconductor company’s stock worth $1,634,000 after buying an additional 16,478 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now owns 114,211 shares in the company, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock worth $4,099,650. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Marvell Technology from $102.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Needham & Company LLC upped their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Loop Capital increased their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. UBS Group boosted their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 target price (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.08.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $124.76 on Friday. The stock has a 50 day moving average of $106.70 and a two-hundred day moving average of $84.46. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -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.