Nilsine Partners LLC Purchases 897 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Nilsine Partners LLC lifted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 31.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,782 shares of the semiconductor company’s stock after acquiring an additional 897 shares during the period. Nilsine Partners LLC’s holdings in Marvell Technology were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRVL. ORG Partners LLC raised 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 worth $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the 4th quarter worth about $33,000. True Wealth Design LLC increased its stake in shares of Marvell Technology by 1,481.8% in the 3rd 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. Quarry LP purchased a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology during the second quarter worth about $32,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup raised their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. KeyCorp raised their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America boosted their target price on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer raised their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, 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 sold 37,755 shares of company stock worth $4,361,430 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $106.79 on Thursday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market capitalization of $92.41 billion, a price-to-earnings ratio of -62.82, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $110.97 and a 200 day moving average of $86.99.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -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.