Empowered Funds LLC Boosts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Empowered Funds LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 15.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,636 shares of the semiconductor company’s stock after purchasing an additional 6,536 shares during the quarter. Empowered Funds LLC’s holdings in Marvell Technology were worth $5,261,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC increased 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 buying an additional 326 shares during the period. ORG Partners LLC raised its holdings 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 purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Marvell Technology in the 4th quarter valued at approximately $33,000. Financial Life Planners acquired a new position in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Whittier Trust Co. raised its stake in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRVL. Bank of America lifted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley lowered their price target on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Melius initiated coverage on shares of Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective for the company. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Oppenheimer boosted their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Insider Activity

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction 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. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock valued at $4,361,430 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Trading Down 3.3 %

MRVL stock opened at $109.12 on Wednesday. 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 company has a market cap of $94.42 billion, a price-to-earnings ratio of -64.19, a PEG ratio of 1.77 and a beta of 1.40. The business has a fifty day simple moving average of $114.53 and a 200-day simple moving average of $89.94. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Announces Dividend

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