Private Wealth Partners LLC Has $4.06 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Private Wealth Partners LLC raised its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,770 shares of the semiconductor company’s stock after purchasing an additional 162 shares during the quarter. Private Wealth Partners LLC’s holdings in Marvell Technology were worth $4,061,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Oppenheimer boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Cantor Fitzgerald boosted their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Susquehanna raised their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Up 3.5 %

Shares of NASDAQ:MRVL opened at $111.04 on Thursday. The stock has a market cap of $96.08 billion, a price-to-earnings ratio of -65.32, a PEG ratio of 1.58 and a beta of 1.40. The business’s 50 day moving average is $113.93 and its 200 day moving average is $91.57. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Marvell Technology’s payout ratio is -14.12%.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was 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. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’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 $735,000.00. Following the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 over the last quarter. Insiders own 0.33% of the company’s stock.

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.