Wealth Enhancement Advisory Services LLC Purchases 629 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Wealth Enhancement Advisory Services LLC grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,974 shares of the semiconductor company’s stock after buying an additional 629 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Marvell Technology were worth $5,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC grew its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. True Wealth Design LLC grew its stake in Marvell Technology by 1,481.8% during 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. Quarry LP acquired a new position in Marvell Technology during the 2nd quarter valued at about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the second quarter valued at about $32,000. Finally, Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In other news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $80.77, for a total value of $484,620.00. Following the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,500 shares of company stock worth $2,967,670. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MRVL shares. B. Riley upped their price objective 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 target 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. UBS Group boosted their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Loop Capital lifted their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer increased their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $115.15 on Tuesday. 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 stock has a market capitalization of $99.64 billion, a PE ratio of -67.73, a P/E/G ratio of 4.03 and a beta of 1.41. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a fifty day moving average of $103.93 and a two-hundred day moving average of $82.98.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

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.