241 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Rialto Wealth Management LLC

Rialto Wealth Management LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 241 shares of the semiconductor company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Marvell Technology by 1,481.8% during the third 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 period. ORG Partners LLC boosted its position in shares of Marvell Technology by 175.3% during 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 in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter worth $26,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter valued at $33,000. Finally, Financial Life Planners bought a new stake in shares of Marvell Technology in the 4th quarter valued at $33,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Down 2.0 %

Shares of NASDAQ:MRVL opened at $70.84 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a market capitalization of $61.30 billion, a PE ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The company has a fifty day moving average of $108.27 and a 200-day moving average of $94.00.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MRVL. Melius assumed coverage on Marvell Technology in a research note on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Citigroup decreased their price objective on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday. KeyCorp cut their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Cantor Fitzgerald increased their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $121.68.

Insider Activity

In related news, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by corporate 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.