Appleton Partners Inc. MA Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Appleton Partners Inc. MA acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 136,497 shares of the semiconductor company’s stock, valued at approximately $15,076,000. Marvell Technology comprises 1.1% of Appleton Partners Inc. MA’s holdings, making the stock its 23rd largest position.

Several other hedge funds also recently modified their holdings of MRVL. ORG Partners LLC grew its stake in 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 purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $33,000. Financial Life Planners bought a new position in shares of Marvell Technology in the fourth quarter valued at $33,000. GHP Investment Advisors Inc. increased its holdings in Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after buying an additional 112 shares during the last quarter. Finally, True Wealth Design LLC raised its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of analyst reports. Rosenblatt Securities lifted their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. TD Cowen upped 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. Oppenheimer raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the company 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 7.2 %

MRVL stock opened at $110.62 on Friday. The company has a market cap of $95.72 billion, a PE ratio of -65.07, a price-to-earnings-growth ratio of 3.71 and a beta of 1.40. 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, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The business has a 50-day simple moving average of $113.59 and a 200 day simple moving average of $88.68.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.