241 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Rialto Wealth Management LLC

Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 241 shares of the semiconductor company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. True Wealth Design LLC boosted its holdings 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 buying an additional 326 shares during the period. ORG Partners LLC lifted its position in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter worth approximately $26,000. Kieckhefer Group LLC purchased a new position in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ:MRVL opened at $70.84 on Monday. The stock has a market capitalization of $61.30 billion, a P/E ratio of -41.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. 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 firm has a 50 day moving average of $108.27 and a 200-day moving average of $94.00.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is presently -23.53%.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares of the company’s stock, valued at $11,912,390. This represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock worth $4,330,980. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MRVL. Summit Insights cut Marvell Technology from a “buy” rating to a “hold” rating in a research report on Thursday. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Needham & Company LLC dropped their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday. Craig Hallum raised their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Cantor Fitzgerald upped their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.68.

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.