Secure Asset Management LLC Buys New Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Secure Asset Management LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,361 shares of the semiconductor company’s stock, valued at approximately $261,000.

Other large investors have also modified their holdings of the company. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the third 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 increased its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Quarry LP purchased a new position in Marvell Technology during the 2nd quarter worth approximately $32,000. Finally, Kieckhefer Group LLC acquired a new stake in Marvell Technology during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MRVL. B. Riley raised their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI boosted their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. UBS Group raised their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.38.

Marvell Technology Stock Down 1.6 %

Shares of MRVL opened at $124.02 on Friday. The stock has a 50 day moving average price of $110.11 and a 200 day moving average price of $86.36. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market capitalization of $107.31 billion, a price-to-earnings ratio of -72.95, a PEG ratio of 4.12 and a beta of 1.41.

Marvell Technology Announces Dividend

The firm also recently announced 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is -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.