Marvell Technology, Inc. (NASDAQ:MRVL) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers lifted its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 213,260 shares of the semiconductor company's stock after acquiring an additional 6,072 shares during the period. Cetera Investment Advisers' holdings in Marvell Technology were worth $23,555,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MRVL. Centricity Wealth Management LLC acquired a new position in shares of Marvell Technology in the fourth quarter valued at about $26,000. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company's stock worth $26,000 after buying an additional 149 shares during the period. Rialto Wealth Management LLC acquired a new position in Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC purchased a new position in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.51% of the company's stock.

Insider Buying and Selling

In other news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares of the company's stock, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now 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. Over the last 90 days, insiders have sold 28,890 shares of company stock worth $2,027,938. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on MRVL shares. Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a report on Monday, January 27th. Summit Insights lowered Marvell Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Stifel Nicolaus decreased their price objective on Marvell Technology from $115.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Finally, Needham & Company LLC decreased their price target on Marvell Technology from $120.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.30.

Marvell Technology Price Performance

NASDAQ MRVL traded up $2.02 during trading hours on Friday, hitting $59.65. 14,683,638 shares of the company's stock traded hands, compared to its average volume of 13,915,803. The company has a market capitalization of $51.53 billion, a PE ratio of -35.09, a PEG ratio of 1.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The firm's 50-day moving average is $61.19 and its 200-day moving average is $89.34.

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 issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.40%. Marvell Technology's dividend payout ratio is presently -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.