Truvestments Capital LLC Has $1.87 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Truvestments Capital LLC boosted its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,925 shares of the semiconductor company’s stock after purchasing an additional 1,897 shares during the period. Truvestments Capital LLC’s holdings in Marvell Technology were worth $1,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $26,000. 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 purchasing an additional 149 shares during the period. Rialto Wealth Management LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology during the 4th quarter worth about $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

Marvell Technology stock opened at $67.16 on Wednesday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company’s 50 day moving average price is $107.36 and its two-hundred day moving average price is $93.97. 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 stock has a market cap of $58.11 billion, a P/E ratio of -39.51, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

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 dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.36%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Insiders Place Their Bets

In other news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s 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 sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MRVL shares. Evercore ISI increased their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC decreased their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. TD Cowen decreased their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.