3,073 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC purchased a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,073 shares of the semiconductor company’s stock, valued at approximately $339,000.

A number of other institutional investors have also recently made changes to their positions in the stock. United Asset Strategies Inc. grew its position in Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock worth $24,287,000 after purchasing an additional 14,547 shares during the period. KBC Group NV boosted its stake in shares of Marvell Technology by 85.8% during the 4th quarter. KBC Group NV now owns 226,419 shares of the semiconductor company’s stock worth $25,008,000 after acquiring an additional 104,554 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Marvell Technology in the 4th quarter worth $16,699,000. Blue Trust Inc. raised its holdings in Marvell Technology by 29.2% in the 4th quarter. Blue Trust Inc. now owns 9,176 shares of the semiconductor company’s stock worth $1,013,000 after purchasing an additional 2,074 shares during the period. Finally, PFG Investments LLC lifted its position in Marvell Technology by 43.8% during the fourth quarter. PFG Investments LLC now owns 4,373 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 1,332 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 2.3 %

MRVL stock opened at $112.86 on Friday. The firm’s fifty day simple moving average is $111.72 and its two-hundred day simple moving average is $87.43. The stock has a market capitalization of $97.66 billion, a price-to-earnings ratio of -66.39, a price-to-earnings-growth ratio of 3.51 and a beta of 1.41. 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, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MRVL. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. 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. Craig Hallum raised their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, The Goldman Sachs Group increased their price target on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s 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 $534,840.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $4,361,430 over the last 90 days. Company insiders own 0.33% of the company’s stock.

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.