Atria Wealth Solutions Inc. Grows Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Atria Wealth Solutions Inc. lifted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,190 shares of the semiconductor company’s stock after purchasing an additional 1,791 shares during the period. Atria Wealth Solutions Inc.’s holdings in Marvell Technology were worth $4,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Venturi Wealth Management LLC grew its stake in Marvell Technology by 993.5% during the 4th quarter. Venturi Wealth Management LLC now owns 2,712 shares of the semiconductor company’s stock valued at $300,000 after acquiring an additional 2,464 shares in the last quarter. Pinnbrook Capital Management LP purchased a new stake in Marvell Technology during the 4th quarter valued at about $1,493,000. CIBC Asset Management Inc grew its stake in Marvell Technology by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 197,102 shares of the semiconductor company’s stock valued at $21,770,000 after acquiring an additional 6,699 shares in the last quarter. Principal Financial Group Inc. grew its stake in Marvell Technology by 385.7% during the 4th quarter. Principal Financial Group Inc. now owns 135,258 shares of the semiconductor company’s stock valued at $14,939,000 after acquiring an additional 107,410 shares in the last quarter. Finally, Americana Partners LLC grew its stake in Marvell Technology by 9.3% during the 4th quarter. Americana Partners LLC now owns 4,776 shares of the semiconductor company’s stock valued at $528,000 after acquiring an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $111.04 on Thursday. The firm has a market cap of $96.08 billion, a PE ratio of -65.32, a price-to-earnings-growth ratio of 1.58 and a beta of 1.40. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. 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 company’s 50 day moving average is $113.93 and its two-hundred day moving average is $91.57.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analysts Set New Price Targets

Several research firms have weighed in on MRVL. Susquehanna boosted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating 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 on the stock. Benchmark reiterated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Rosenblatt Securities boosted their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

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.