AAFMAA Wealth Management & Trust LLC Decreases Position in Marvell Technology, Inc. (NASDAQ:MRVL)

AAFMAA Wealth Management & Trust LLC reduced its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,064 shares of the semiconductor company’s stock after selling 3,319 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in Marvell Technology were worth $891,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions 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 purchasing an additional 326 shares during the last quarter. ORG Partners LLC boosted 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 worth $26,000 after acquiring an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the 2nd quarter valued at about $32,000. Quarry LP acquired a new stake in Marvell Technology in the 2nd quarter valued at about $32,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,500 shares of company stock valued at $2,967,670 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of analyst reports. Barclays lifted their price objective on Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup raised their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Benchmark reissued a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Price Performance

MRVL stock opened at $115.15 on Tuesday. The stock has a market cap of $99.64 billion, a price-to-earnings ratio of -67.73, a PEG ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. 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 business has a 50 day moving average price of $103.93 and a 200 day moving average price of $82.98.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Marvell Technology 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.