Capital A Wealth Management LLC Makes New $583,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Capital A Wealth Management LLC acquired a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,277 shares of the semiconductor company's stock, valued at approximately $583,000. Marvell Technology comprises about 1.0% of Capital A Wealth Management LLC's investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRVL. Norges Bank purchased a new stake in Marvell Technology during the fourth quarter valued at about $1,138,354,000. GQG Partners LLC purchased a new stake in Marvell Technology during the fourth quarter valued at about $802,410,000. Nuveen Asset Management LLC grew its position in Marvell Technology by 232.2% during the fourth quarter. Nuveen Asset Management LLC now owns 9,360,425 shares of the semiconductor company's stock valued at $1,033,859,000 after acquiring an additional 6,543,132 shares during the period. Wellington Management Group LLP grew its position in Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company's stock valued at $1,374,252,000 after acquiring an additional 3,747,982 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company's stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Activity

In other news, Director Brad W. Buss acquired 3,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now directly owns 87,113 shares in the company, valued at $6,010,797. This trade represents a 3.57% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Chris Koopmans sold 6,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $412,980.00. Following the transaction, the chief operating officer now owns 81,931 shares of the company's stock, valued at approximately $5,639,310.73. This represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,541 shares of company stock valued at $2,079,948. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on MRVL shares. TD Cowen reduced their price objective on Marvell Technology from $125.00 to $95.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Summit Insights cut Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Piper Sandler reduced their price objective on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus reduced their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Needham & Company LLC reduced their price objective on Marvell Technology from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $103.22.

Marvell Technology Stock Performance

MRVL traded up $3.13 on Tuesday, hitting $63.82. 25,464,891 shares of the company's stock were exchanged, compared to its average volume of 14,241,210. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $59.39 and a two-hundred day moving average of $87.61. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. The firm has a market cap of $55.13 billion, a PE ratio of -37.54, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's payout ratio is -23.53%.

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.