GAMMA Investing LLC Acquires 891 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

GAMMA Investing LLC increased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 12.2% in the fourth quarter, Holdings Channel reports. The firm owned 8,224 shares of the semiconductor company’s stock after buying an additional 891 shares during the quarter. GAMMA Investing LLC’s holdings in Marvell Technology were worth $908,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC raised its holdings in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the period. Quarry LP acquired a new stake in Marvell Technology during the 2nd quarter worth $32,000. Strategic Investment Solutions Inc. IL bought a new position in Marvell Technology during the second quarter worth about $32,000. Whittier Trust Co. grew its stake in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Finally, Goodman Advisory Group LLC bought a new stake in shares of Marvell Technology in the third quarter worth about $37,000. Institutional investors own 83.51% of the company’s stock.

Insider Activity

In related news, CEO Matthew J. Murphy purchased 13,000 shares of the stock in a transaction on Monday, October 14th. The shares were purchased at an average cost of $77.63 per share, with a total value of $1,009,190.00. Following the acquisition, the chief executive officer now directly owns 221,915 shares in the company, valued at $17,227,261.45. The trade was a 6.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the sale, the chief financial officer now owns 110,253 shares of the company’s stock, valued at approximately $8,875,366.50. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,500 shares of company stock valued at $14,267,670 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $118.18 on Friday. 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 company has a market capitalization of $102.26 billion, a P/E ratio of -69.52, a P/E/G ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The stock has a 50 day moving average of $100.53 and a 200-day moving average of $81.26.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. B. Riley upped their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Cantor Fitzgerald raised their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Craig Hallum upped their target price on shares of Marvell Technology from $88.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, TD Cowen lifted their price target on Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.76.

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.