WBI Investments LLC Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

WBI Investments LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,645 shares of the semiconductor company's stock, valued at approximately $1,838,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intrepid Financial Planning Group LLC grew its stake in Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock valued at $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc grew its position in shares of Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after purchasing an additional 92 shares during the period. Lodestone Wealth Management LLC increased its stake in Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 93 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after buying an additional 96 shares during the period. Finally, Private Trust Co. NA raised its holdings in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after buying an additional 97 shares during the period. 83.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Mark Casper sold 12,460 shares of Marvell Technology stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company's stock, valued at approximately $2,138,125. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,915 shares of company stock valued at $2,679,800 over the last quarter. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MRVL shares. Melius initiated coverage on shares of Marvell Technology in a report on Monday, January 27th. They issued a "buy" rating and a $188.00 price target for the company. Barclays reduced their target price on shares of Marvell Technology from $130.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Raymond James set a $110.00 price target on Marvell Technology in a report on Thursday, March 6th. Morgan Stanley decreased their price objective on Marvell Technology from $113.00 to $90.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Finally, Summit Insights cut Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.27.

Marvell Technology Price Performance

Marvell Technology stock opened at $63.76 on Monday. 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 company has a market capitalization of $55.08 billion, a price-to-earnings ratio of -37.51, a PEG ratio of 1.61 and a beta of 1.83. The stock's 50 day moving average is $60.36 and its 200-day moving average is $88.78. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

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 paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Friday, April 11th. Marvell Technology's dividend payout ratio (DPR) is currently -23.53%.

About Marvell Technology

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.

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