Centricity Wealth Management LLC Makes New $26,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Centricity Wealth Management LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 231 shares of the semiconductor company’s stock, valued at approximately $26,000.

A number of other large investors have also added to or reduced their stakes in MRVL. State Street Corp boosted its stake in shares of Marvell Technology by 0.3% during the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Marvell Technology by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Marvell Technology by 4.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after purchasing an additional 359,005 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after purchasing an additional 1,570,050 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after purchasing an additional 571,005 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL stock opened at $103.85 on Friday. The company has a 50 day moving average price of $113.59 and a 200-day moving average price of $92.25. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The firm has a market capitalization of $89.86 billion, a PE ratio of -61.09, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.23%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MRVL. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Benchmark reissued a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted 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. Needham & Company LLC lifted their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s 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 $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 trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last three months. 0.33% of the stock is currently owned by company insiders.

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.