WESPAC Advisors LLC Takes $221,000 Position in Marvell Technology, Inc. (NASDAQ:MRVL)

WESPAC Advisors LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,000 shares of the semiconductor company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the period. Geode Capital Management LLC lifted its stake in shares of Marvell Technology by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares during the period. Wellington Management Group LLP lifted its stake in shares of Marvell Technology by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares during the period. Van ECK Associates Corp raised its stake in Marvell Technology by 26.6% during the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. 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 the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MRVL. Oppenheimer lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. TD Cowen lifted their price objective on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Loop Capital lifted their price objective on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, KeyCorp lifted their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $103.85 on Monday. The stock has a 50-day simple moving average of $113.59 and a two-hundred day simple moving average of $92.50. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a 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%.

Marvell Technology Company 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.