Truvestments Capital LLC Acquires 1,897 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Truvestments Capital LLC boosted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,925 shares of the semiconductor company’s stock after acquiring an additional 1,897 shares during the period. Truvestments Capital LLC’s holdings in Marvell Technology were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $26,000. ORG Partners LLC increased its position in shares of 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 acquiring an additional 149 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $27,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $33,000. Finally, Financial Life Planners acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Brad W. Buss purchased 3,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the purchase, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last three months. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRVL. UBS Group lifted their target price on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Susquehanna boosted 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. Bank of America lowered their price target on Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC lowered their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, Benchmark reissued a “buy” rating and set a $135.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Stock Up 2.3 %

NASDAQ MRVL opened at $67.16 on Wednesday. The business has a fifty day moving average price of $107.36 and a two-hundred day moving average price of $93.97. 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 fifty-two week low of $53.19 and a fifty-two week high of $127.48. The stock has a market capitalization of $58.11 billion, a PE ratio of -39.51, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is presently -23.53%.

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.