300 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Kieckhefer Group LLC

Kieckhefer Group LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, HoldingsChannel reports. The firm bought 300 shares of the semiconductor company’s stock, valued at approximately $33,000.

Several other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC grew its holdings in 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 buying an additional 326 shares in the last quarter. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology in the 2nd quarter worth approximately $32,000. Quarry LP bought a new position in Marvell Technology in the 2nd quarter valued at $32,000. Finally, Whittier Trust Co. grew its position in shares of Marvell Technology by 74.5% during the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 210 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Michael G. Strachan sold 5,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $80.50, for a total value of $120,750.00. Following the completion of the transaction, the chief financial officer now owns 110,253 shares of the company’s stock, valued at $8,875,366.50. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,000 shares of company stock valued at $15,163,420. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MRVL. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Loop Capital boosted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Oppenheimer raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Susquehanna upped their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a report on Wednesday, December 4th. Finally, KeyCorp boosted their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Marvell Technology Stock Performance

Shares of MRVL stock traded up $0.26 during mid-day trading on Monday, reaching $114.58. 4,348,341 shares of the company’s stock traded hands, compared to its average volume of 10,013,350. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15. The firm has a 50 day moving average price of $103.93 and a two-hundred day moving average price of $82.98. The firm has a market capitalization of $99.15 billion, a PE ratio of -67.40, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.