Smartleaf Asset Management LLC Has $402,000 Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Smartleaf Asset Management LLC raised its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 52.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,599 shares of the semiconductor company’s stock after acquiring an additional 1,233 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Marvell Technology were worth $402,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. True Wealth Design LLC grew its holdings in shares of Marvell Technology by 1,481.8% in 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 last quarter. ORG Partners LLC boosted its position 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 buying an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth approximately $26,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth approximately $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology in the fourth quarter valued at approximately $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRVL. Susquehanna increased their price target on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Citigroup increased their target price on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Loop Capital lifted their price target on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. TD Cowen increased their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Up 2.9 %

NASDAQ:MRVL opened at $88.33 on Wednesday. The business’s 50-day simple moving average is $111.07 and its 200-day simple moving average is $93.71. 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 current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $76.43 billion, a PE ratio of -51.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors 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 currently -14.12%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred 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 sale, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

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.