Onyx Bridge Wealth Group LLC Purchases 185 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Onyx Bridge Wealth Group LLC lifted its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,322 shares of the semiconductor company’s stock after acquiring an additional 185 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Marvell Technology were worth $588,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position 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 valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC lifted its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the fourth quarter worth $33,000. Financial Life Planners purchased a new stake in Marvell Technology during the 4th quarter worth about $33,000. Finally, Whittier Trust Co. grew its holdings in 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 buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Craig Hallum boosted their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Stifel Nicolaus increased their price objective on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Loop Capital upped their target price on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, KeyCorp lifted their price target on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $127.60.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $4,361,430 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Up 6.2 %

Shares of Marvell Technology stock opened at $116.46 on Thursday. 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 stock’s 50 day simple moving average is $113.00 and its 200-day simple moving average is $88.47. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

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.