Waterway Wealth Management LLC Buys New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Waterway Wealth Management LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,845 shares of the semiconductor company’s stock, valued at approximately $204,000.

Several other large investors have also added to or reduced their stakes in MRVL. Centricity Wealth Management LLC purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $26,000. ORG Partners LLC lifted 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 valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. Financial Life Planners acquired a new stake in shares of Marvell Technology in the fourth quarter worth $33,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 7.6 %

Shares of MRVL stock opened at $87.65 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $112.03 and a 200-day simple moving average of $92.96. The stock has a market cap of $75.84 billion, a P/E ratio of -51.56, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Analysts Set New Price Targets

MRVL has been the topic of several analyst reports. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a research report on Friday, February 14th. Susquehanna upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Loop Capital boosted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the completion of the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by insiders.

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.