Bellwether Advisors LLC Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Bellwether Advisors LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 39,414 shares of the semiconductor company’s stock, valued at approximately $4,353,000. Marvell Technology accounts for 0.8% of Bellwether Advisors LLC’s holdings, making the stock its 26th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC increased its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology during the fourth quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners bought a new stake in Marvell Technology in the 4th quarter valued at $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $58.92 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $51.03 billion, a PE ratio of -34.66, a PEG ratio of 1.61 and a beta of 1.78. The firm has a 50 day moving average of $68.53 and a 200-day moving average of $90.83. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. Marvell Technology’s payout ratio is -23.53%.

Insider Transactions at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now owns 113,592 shares in the company, valued at approximately $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,390 shares of company stock valued at $1,937,938. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC lowered their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Melius began coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price on the stock. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Barclays lowered their price objective on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $114.56.

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.