Marvell Technology, Inc. (NASDAQ:MRVL) Shares Acquired by Breakwater Capital Group

Breakwater Capital Group boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,074 shares of the semiconductor company’s stock after purchasing an additional 184 shares during the period. Breakwater Capital Group’s holdings in Marvell Technology were worth $892,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake 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 purchasing an additional 326 shares during the period. ORG Partners LLC increased 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 valued at $26,000 after buying an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology during the 2nd quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Marvell Technology during the 2nd quarter worth approximately $32,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $33,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the sale, the executive vice president now owns 109,244 shares in the company, valued at approximately $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,500 shares of company stock worth $2,967,670 in the last quarter. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of a number of research analyst reports. Cantor Fitzgerald raised their price target on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Rosenblatt Securities lifted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Stifel Nicolaus upped their price target on shares of Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Piper Sandler reiterated an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $121.68.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $115.15 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm has a market cap of $99.64 billion, a PE ratio of -67.73, a price-to-earnings-growth 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 company’s 50-day moving average price is $104.54 and its two-hundred day moving average price is $83.31.

Marvell Technology Dividend Announcement

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 issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.