Ring Mountain Capital LLC Makes New $2.43 Million Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Ring Mountain Capital LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 22,015 shares of the semiconductor company’s stock, valued at approximately $2,432,000. Marvell Technology accounts for 1.6% of Ring Mountain Capital LLC’s holdings, making the stock its 16th largest holding.

Several other large investors have also recently added to or reduced their stakes in MRVL. True Wealth Design LLC increased its position 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 worth $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC boosted its stake 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 valued at $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter valued at about $26,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners acquired a new stake in shares of Marvell Technology during the fourth quarter valued at about $33,000. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MRVL shares. Oppenheimer lifted their price target on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Stifel Nicolaus boosted their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. Benchmark restated a “buy” rating and set a $135.00 price objective (up previously from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, Bank of America boosted their price objective on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Three 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. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Down 6.5 %

MRVL stock opened at $85.83 on Tuesday. The stock’s fifty day simple moving average is $111.63 and its two-hundred day simple moving average is $93.59. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The stock has a market cap of $74.27 billion, a P/E ratio of -50.49, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their position. 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 90 days. Insiders own 0.33% of the company’s stock.

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.