SeaCrest Wealth Management LLC Invests $257,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

SeaCrest Wealth Management LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, Holdings Channel reports. The firm bought 2,329 shares of the semiconductor company’s stock, valued at approximately $257,000.

A number of other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in Marvell Technology by 175.3% in the fourth 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 last quarter. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $33,000. True Wealth Design LLC lifted its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the last quarter. Quarry LP bought a new position in Marvell Technology during the second quarter worth about $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Marvell Technology during the second quarter worth approximately $32,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Evercore ISI lifted their target price on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. KeyCorp lifted their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Susquehanna lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $123.08.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $124.76 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 cap of $107.95 billion, a PE ratio of -73.39, a price-to-earnings-growth ratio of 3.76 and a beta of 1.41. The company has a 50 day moving average of $106.70 and a 200-day moving average of $84.46. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be paid 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 0.19%. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the transaction, the chief financial officer now owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $4,099,650 in the last ninety days. 0.33% of the stock is owned by insiders.

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.