EntryPoint Capital LLC Acquires New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

EntryPoint Capital LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,766 shares of the semiconductor company’s stock, valued at approximately $306,000.

A number of other institutional investors have also modified their holdings of the stock. True Wealth Design LLC increased its holdings 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 worth $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC raised its holdings in shares of 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 acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth about $27,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology during the 4th quarter valued at about $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the completion of the sale, the chief financial officer now owns 111,211 shares of the company’s stock, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were 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 directly owns 31,100 shares in the company, valued at $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock valued at $4,026,768 in the last three months. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. B. Riley increased their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Summit Insights downgraded Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Citigroup cut their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Morgan Stanley decreased their price target on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $120.44.

Marvell Technology Trading Down 2.8 %

Shares of Marvell Technology stock opened at $64.86 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market cap of $56.17 billion, a P/E ratio of -38.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The firm has a 50-day simple moving average of $95.30 and a two-hundred day simple moving average of $93.52.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

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.