Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC boosted its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.4% during the 4th quarter, HoldingsChannel reports. The firm owned 5,749 shares of the semiconductor company’s stock after buying an additional 189 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Marvell Technology were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MRVL. GAMMA Investing LLC lifted its position in Marvell Technology by 13.7% in the 3rd quarter. GAMMA Investing LLC now owns 7,333 shares of the semiconductor company’s stock valued at $529,000 after purchasing an additional 882 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in Marvell Technology by 2.2% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 15,873 shares of the semiconductor company’s stock valued at $1,145,000 after purchasing an additional 346 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in Marvell Technology by 2.5% in the 3rd quarter. Miracle Mile Advisors LLC now owns 24,626 shares of the semiconductor company’s stock valued at $1,776,000 after purchasing an additional 600 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in Marvell Technology by 9.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,973 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 418 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its position in Marvell Technology by 34.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 17,966 shares of the semiconductor company’s stock valued at $1,296,000 after purchasing an additional 4,626 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on MRVL shares. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Stifel Nicolaus boosted their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Craig Hallum boosted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average price target of $127.60.

Insider Transactions at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the 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. This represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by insiders.

Marvell Technology Price Performance

MRVL stock opened at $109.69 on Wednesday. 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 firm has a 50 day simple moving average of $112.48 and a 200 day simple moving average of $88.27. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

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

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.