Intellus Advisors LLC Acquires Shares of 8,400 Marvell Technology, Inc. (NASDAQ:MRVL)

Intellus Advisors LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,400 shares of the semiconductor company’s stock, valued at approximately $928,000.

A number of other hedge funds also recently made changes to their positions in MRVL. Centricity Wealth Management LLC bought a new stake in Marvell Technology in the fourth quarter worth about $26,000. ORG Partners LLC increased its stake in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology during the fourth quarter valued at $33,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction 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 owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,685 shares of company stock worth $4,026,768. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

MRVL has been the topic of several research reports. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Raymond James set a $110.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, KeyCorp cut their price objective on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $70.39 on Friday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a fifty day moving average of $99.06 and a 200-day moving average of $93.52. The company has a market capitalization of $60.96 billion, a P/E ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s payout ratio is currently -23.53%.

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.