Bank of Jackson Hole Trust Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Bank of Jackson Hole Trust acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 870 shares of the semiconductor company’s stock, valued at approximately $96,000.

A number of other hedge funds have also recently bought and sold shares of MRVL. True Wealth Design LLC boosted its holdings in shares of Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after buying 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 worth $26,000 after buying an additional 149 shares during the last quarter. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $33,000. Financial Life Planners purchased a new position in shares of Marvell Technology in the 4th quarter worth about $33,000. Finally, Whittier Trust Co. boosted its holdings 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 worth $35,000 after buying an additional 210 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 3.5 %

MRVL stock opened at $111.04 on Thursday. 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 cap of $96.08 billion, a price-to-earnings ratio of -65.32, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40. The company’s 50 day moving average is $113.93 and its 200 day moving average is $91.57. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Needham & Company LLC boosted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. KeyCorp boosted their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Melius started coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Insider Activity at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the transaction, the chief financial officer now owns 111,211 shares in the company, valued at approximately $13,159,597.63. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 over the last quarter. 0.33% of the stock is owned by corporate insiders.

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.