Kieckhefer Group LLC Invests $33,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Kieckhefer Group LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 300 shares of the semiconductor company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRVL. True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the second quarter worth $32,000. Quarry LP acquired a new stake in Marvell Technology in the second quarter valued at $32,000. Finally, Whittier Trust Co. grew its position in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction on 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 owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares in the company, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock worth $15,163,420 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MRVL has been the subject of a number of research reports. Barclays raised their target price on shares of Marvell Technology from $85.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. KeyCorp upped their target price on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Rosenblatt Securities upped their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. TD Cowen lifted their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Evercore ISI upped their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Stock Up 0.2 %

Shares of NASDAQ MRVL traded up $0.26 during mid-day trading on Monday, reaching $114.58. 4,348,341 shares of the company’s stock traded hands, compared to its average volume of 10,013,350. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The stock has a market cap of $99.15 billion, a P/E ratio of -67.40, a PEG ratio of 4.03 and a beta of 1.41. The business has a 50-day simple moving average of $103.93 and a 200 day simple moving average of $82.98.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.