Forte Capital LLC ADV Buys New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Forte Capital LLC ADV bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,233 shares of the semiconductor company’s stock, valued at approximately $247,000.

Several other large investors have also recently bought and sold shares of MRVL. True Wealth Design LLC increased its holdings 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 valued at $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC increased 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 buying an additional 149 shares during the last quarter. Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter valued at $33,000. Financial Life Planners purchased a new position in shares of Marvell Technology during the fourth quarter worth about $33,000. Finally, Whittier Trust Co. grew its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL stock opened at $103.85 on Friday. The firm has a 50 day moving average of $113.59 and a 200-day moving average of $92.01. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. 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 company has a market cap of $89.86 billion, a price-to-earnings ratio of -61.09, a PEG ratio of 1.64 and a beta of 1.40.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Marvell Technology’s payout ratio is -14.12%.

Insider Activity

In other news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,255 shares of company stock worth $4,330,980. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MRVL shares. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley dropped their price objective on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, Rosenblatt Securities raised their price objective on Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.