Linscomb Wealth Inc. Boosts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Linscomb Wealth Inc. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,170 shares of the semiconductor company’s stock after purchasing an additional 1,664 shares during the period. Linscomb Wealth Inc.’s holdings in Marvell Technology were worth $3,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRVL. True Wealth Design LLC boosted 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 valued at $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth $26,000. Kieckhefer Group LLC bought a new stake in Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners purchased a new position in Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 7.6 %

Shares of MRVL opened at $87.65 on Friday. The company has a market capitalization of $75.84 billion, a price-to-earnings ratio of -51.56, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The stock’s 50-day moving average price is $112.03 and its 200-day moving average price is $92.96. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.27%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MRVL shares. Citigroup increased their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Cantor Fitzgerald lifted their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp increased their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Evercore ISI boosted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. 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. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In related news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the 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 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 disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 in the last 90 days. 0.33% of the stock is currently owned by company insiders.

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.