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

Axxcess Wealth Management LLC grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,217 shares of the semiconductor company’s stock after acquiring an additional 279 shares during the period. Axxcess Wealth Management LLC’s holdings in Marvell Technology were worth $687,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Swedbank AB grew its holdings in Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the period. PNC Financial Services Group Inc. grew its stake in Marvell Technology by 1.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 71,783 shares of the semiconductor company’s stock valued at $5,177,000 after acquiring an additional 1,062 shares during the period. Avior Wealth Management LLC increased its holdings in Marvell Technology by 26.2% in the 3rd quarter. Avior Wealth Management LLC now owns 1,363 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 283 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in Marvell Technology by 16.6% during the third quarter. Intech Investment Management LLC now owns 104,296 shares of the semiconductor company’s stock valued at $7,522,000 after purchasing an additional 14,846 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MRVL shares. JPMorgan Chase & Co. upped their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC reduced their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. KeyCorp decreased their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Cantor Fitzgerald upped their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Stock Down 0.1 %

Shares of MRVL opened at $70.39 on Friday. The company’s 50-day simple moving average is $99.06 and its 200-day simple moving average is $93.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The stock has a market capitalization of $60.96 billion, a PE ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the completion of the sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,685 shares of company stock valued at $4,026,768. 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.