Menard Financial Group LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Menard Financial Group LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,060 shares of the semiconductor company's stock, valued at approximately $669,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Marvell Technology during the 4th quarter valued at $105,450,000. Chelsea Counsel Co. bought a new stake in Marvell Technology during the 4th quarter valued at $44,000. Bernard Wealth Management Corp. bought a new stake in Marvell Technology during the 4th quarter valued at $45,000. Capital A Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter worth $583,000. Finally, Virtue Capital Management LLC boosted its position in shares of Marvell Technology by 2.1% in the 4th quarter. Virtue Capital Management LLC now owns 7,752 shares of the semiconductor company's stock worth $856,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 83.51% of the company's stock.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL traded up $0.77 during trading on Wednesday, reaching $64.59. 23,176,762 shares of the company traded hands, compared to its average volume of 14,285,256. The firm's fifty day simple moving average is $59.14 and its 200 day simple moving average is $87.29. The stock has a market cap of $55.79 billion, a P/E ratio of -37.99, a PEG ratio of 1.61 and a beta of 1.83. Marvell Technology, Inc. has a 12-month low of $47.09 and a 12-month high of $127.48. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.37%. Marvell Technology's payout ratio is currently -23.53%.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 626 shares of Marvell Technology stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $61.10, for a total value of $38,248.60. Following the completion of the transaction, the executive vice president now owns 626 shares in the company, valued at $38,248.60. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brad W. Buss purchased 3,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, with a total value of $207,000.00. Following the purchase, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 33,541 shares of company stock worth $2,079,948 in the last 90 days. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. KeyCorp lowered their price objective on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Barclays lowered their price objective on Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald cut Marvell Technology from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $125.00 to $60.00 in a research report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has an average rating of "Moderate Buy" and an average target price of $101.93.

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.