Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. raised its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,895 shares of the semiconductor company’s stock after purchasing an additional 175 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Marvell Technology were worth $541,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MRVL. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares in the last quarter. ORG Partners LLC grew its position in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth $26,000. Kieckhefer Group LLC purchased a new stake in shares of Marvell Technology during the 4th quarter worth about $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock worth $4,330,980 in the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $93.00 on Wednesday. The stock has a market capitalization of $80.47 billion, a price-to-earnings ratio of -54.71, a PEG ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The business has a 50-day moving average of $112.66 and a 200-day moving average of $92.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. Marvell Technology’s payout ratio is -14.12%.

Analyst Ratings Changes

Several analysts have recently issued reports on MRVL shares. Loop Capital upped their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Benchmark reiterated a “buy” rating and issued a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Cantor Fitzgerald raised their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Susquehanna raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Finally, TD Cowen upped their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.