7,463 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Acquired by Total Wealth Planning & Management Inc.

Total Wealth Planning & Management Inc. bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,463 shares of the semiconductor company's stock, valued at approximately $824,000. Marvell Technology comprises about 0.7% of Total Wealth Planning & Management Inc.'s portfolio, making the stock its 26th biggest holding.

A number of other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Marvell Technology during the 4th quarter worth about $234,000. United Asset Strategies Inc. grew its holdings in shares of Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company's stock worth $24,287,000 after acquiring an additional 14,547 shares during the period. Prudent Investors Network Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $248,000. Hudock Inc. acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $265,000. Finally, Jeppson Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter worth approximately $302,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Marvell Technology 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brad W. Buss bought 3,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now owns 87,113 shares of the company's stock, valued at approximately $6,010,797. The trade was a 3.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 33,541 shares of company stock worth $2,079,948. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MRVL shares. Raymond James reissued an "outperform" rating and set a $90.00 price target (down previously from $110.00) on shares of Marvell Technology in a research note on Friday. Piper Sandler reaffirmed an "overweight" rating and issued a $85.00 target price (down from $95.00) on shares of Marvell Technology in a research report on Friday. Wells Fargo & Company cut their target price on Marvell Technology from $120.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday. Susquehanna cut their target price on Marvell Technology from $110.00 to $90.00 and set a "positive" rating on the stock in a research report on Tuesday. Finally, Loop Capital raised Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $95.14.

Marvell Technology Stock Performance

MRVL stock traded down $4.53 during trading hours on Friday, hitting $59.20. 26,960,219 shares of the stock were exchanged, compared to its average volume of 14,458,831. 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 firm has a market capitalization of $51.14 billion, a P/E ratio of -34.90, a P/E/G ratio of 1.61 and a beta of 1.83. The company has a 50-day simple moving average of $58.96 and a two-hundred day simple moving average of $87.09. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The semiconductor company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Marvell Technology had a positive return on equity of 4.59% and a negative net margin of 27.49%. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the business earned $0.24 earnings per share. Marvell Technology's revenue was up 63.3% on a year-over-year basis. On average, analysts forecast that Marvell Technology, Inc. will post 0.91 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology's payout ratio is currently -23.53%.

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.