Wealth High Governance Capital Ltda Acquires Shares of 74,400 Marvell Technology, Inc. (NASDAQ:MRVL)

Wealth High Governance Capital Ltda bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 74,400 shares of the semiconductor company’s stock, valued at approximately $8,217,000. Marvell Technology accounts for 3.0% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 14th largest position.

A number of other large investors have also recently made changes to their positions in the business. True Wealth Design LLC increased its holdings in shares of 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 acquiring an additional 326 shares in the last quarter. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% during the fourth 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. Centricity Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the 4th quarter worth approximately $27,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter worth $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $67.16 on Wednesday. The business has a 50-day moving average price of $107.36 and a 200 day moving average price of $93.97. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market cap of $58.11 billion, a PE ratio of -39.51, a P/E/G ratio of 1.61 and a beta of 1.42. 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 Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on MRVL shares. Loop Capital upgraded shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their price objective on shares of Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company restated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Piper Sandler dropped their target price on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

Insider Transactions at Marvell Technology

In other news, Director Brad W. Buss purchased 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $69.00 per share, with a total value of $207,000.00. Following the transaction, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents 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 at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Company 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.