C M Bidwell & Associates Ltd. Purchases Shares of 1,360 Marvell Technology, Inc. (NASDAQ:MRVL)

C M Bidwell & Associates Ltd. acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,360 shares of the semiconductor company’s stock, valued at approximately $150,000.

Other hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $26,000. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Rialto Wealth Management LLC acquired a new stake in Marvell Technology during the fourth quarter worth about $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $33,000. Finally, Financial Life Planners acquired a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $62.04 on Monday. 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 50-day simple moving average of $94.05 and a 200 day simple moving average of $93.75. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a market cap of $53.73 billion, a PE ratio of -36.49, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

Wall Street Analyst Weigh In

Several research firms recently commented on MRVL. TD Cowen cut their price target on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, March 6th. Citigroup lowered their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, March 6th. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

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.