Waterway Wealth Management LLC Invests $204,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Waterway Wealth Management LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,845 shares of the semiconductor company’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA increased its position in Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 97 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Marvell Technology by 57.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,495 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 548 shares during the period. Financial Security Advisor Inc. bought a new position in Marvell Technology during the 4th quarter valued at about $204,000. Shoker Investment Counsel Inc. purchased a new stake in Marvell Technology in the 4th quarter worth about $219,000. Finally, Fort Sheridan Advisors LLC lifted its stake in Marvell Technology by 21.1% in the fourth quarter. Fort Sheridan Advisors LLC now owns 7,180 shares of the semiconductor company’s stock worth $793,000 after purchasing an additional 1,253 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. KeyCorp upped their price objective on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a research report on Friday, February 14th. B. Riley boosted their target price on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Stock Performance

MRVL stock opened at $87.65 on Friday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $127.48. The firm has a market cap of $75.84 billion, a price-to-earnings ratio of -51.56, a PEG ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a 50-day simple moving average of $112.03 and a two-hundred day simple moving average of $92.96.

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 paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.27%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insiders Place Their Bets

In other Marvell Technology 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 value 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 trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Chris Koopmans sold 6,000 shares of the business’s 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 owns 87,931 shares in the company, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,255 shares of company stock valued at $4,330,980. 0.33% of the stock is currently owned by 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.