Global Retirement Partners LLC Has $718,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Global Retirement Partners LLC grew its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,496 shares of the semiconductor company’s stock after buying an additional 764 shares during the period. Global Retirement Partners LLC’s holdings in Marvell Technology were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Marvell Technology by 1,481.8% during 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 during the period. ORG Partners LLC lifted its holdings in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the 4th quarter worth about $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the 4th quarter worth about $33,000. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology during the 3rd quarter worth about $37,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $103.85 on Friday. The company’s fifty day simple moving average is $113.59 and its 200-day simple moving average is $92.25. 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 firm has a market cap of $89.86 billion, a PE ratio of -61.09, a P/E/G ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Announces Dividend

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

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MRVL shares. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Cantor Fitzgerald raised their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Rosenblatt Securities lifted their price target on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, TD Cowen lifted their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

About Marvell Technology

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.