Pines Wealth Management LLC Acquires Shares of 2,847 Marvell Technology, Inc. (NASDAQ:MRVL)

Pines Wealth Management LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,847 shares of the semiconductor company’s stock, valued at approximately $325,000.

Several other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter valued at about $257,000. Accurate Wealth Management LLC purchased a new position in Marvell Technology during the 4th quarter valued at about $280,000. Tlwm raised its position in Marvell Technology by 6.0% during the 4th quarter. Tlwm now owns 8,960 shares of the semiconductor company’s stock valued at $990,000 after purchasing an additional 507 shares during the last quarter. Breakwater Capital Group lifted its holdings in Marvell Technology by 2.3% in the 4th quarter. Breakwater Capital Group now owns 8,074 shares of the semiconductor company’s stock worth $892,000 after buying an additional 184 shares during the period. Finally, Johnson & White Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $345,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 0.7 %

MRVL opened at $116.00 on Thursday. The stock has a market capitalization of $100.37 billion, a price-to-earnings ratio of -68.23, a PEG ratio of 4.03 and a beta of 1.41. The firm has a 50 day moving average price of $105.61 and a 200-day moving average price of $83.85. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $126.15. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s payout ratio is -14.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MRVL shares. Needham & Company LLC lifted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Citigroup raised their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Stifel Nicolaus lifted their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. This trade represents a 13.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,500 shares of company stock worth $2,967,670 in the last ninety days. Insiders own 0.33% of the company’s stock.

About Marvell Technology

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.