Marvell Technology, Inc. (NASDAQ:MRVL) is NBW Capital LLC’s 8th Largest Position

NBW Capital LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,437 shares of the semiconductor company’s stock after selling 6,682 shares during the period. Marvell Technology comprises approximately 2.5% of NBW Capital LLC’s holdings, making the stock its 8th largest position. NBW Capital LLC’s holdings in Marvell Technology were worth $13,302,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC grew its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% during 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. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter valued at $26,000. Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter worth $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology in the 4th quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Marvell Technology stock opened at $85.83 on Tuesday. 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, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The firm has a market capitalization of $74.27 billion, a P/E ratio of -50.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company’s 50-day moving average is $111.63 and its 200 day moving average is $93.59.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MRVL. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Melius began coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 target price for the company. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Finally, Bank of America upped their target price on shares of Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Three investment 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 company’s stock. According to MarketBeat.com, Marvell Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the transaction, the executive vice president now owns 97,244 shares in the company, valued at $11,912,390. This represents 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 valued at $4,330,980 in the last ninety days. 0.33% of the stock is owned by company 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.