Mirador Capital Partners LP Purchases New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Mirador Capital Partners LP purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,544 shares of the semiconductor company’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC boosted its stake in shares of Marvell Technology by 1,481.8% during the third 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 period. ORG Partners LLC increased its position in Marvell Technology by 175.3% in the 4th 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 period. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the 2nd quarter valued at approximately $32,000. Quarry LP acquired a new stake in Marvell Technology during the 2nd quarter worth approximately $32,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the 4th quarter valued at approximately $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. The trade was a 13.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’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 transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This trade represents a 5.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock valued at $2,967,670 in the last quarter. Insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $117.58 on Friday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The firm’s fifty day simple moving average is $106.09 and its 200-day simple moving average is $84.09. 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 Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.20%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MRVL shares. Cantor Fitzgerald increased their price target on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. KeyCorp lifted their target price on shares of Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.68.

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.