WESPAC Advisors LLC Purchases New Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

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

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC raised its stake in Marvell Technology by 175.3% in the 4th 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. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at $26,000. Kieckhefer Group LLC bought a new position in Marvell Technology during the 4th quarter worth $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology during the 4th quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley reiterated an “equal weight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Stifel Nicolaus increased their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Craig Hallum increased their price objective on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, B. Riley increased their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.60.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This 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 worth $4,330,980 in the last ninety days. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

MRVL opened at $103.85 on Monday. The stock’s 50 day simple moving average is $113.59 and its 200 day simple moving average is $92.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm has a market cap of $89.86 billion, a price-to-earnings ratio of -61.09, a PEG 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. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.23%. Marvell Technology’s payout ratio is -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.