Morse Asset Management Inc Invests $511,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Morse Asset Management Inc purchased 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 disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,623 shares of the semiconductor company's stock, valued at approximately $511,000.

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

Marvell Technology Trading Down 1.1%

NASDAQ MRVL traded down $0.70 on Thursday, hitting $65.20. 9,947,544 shares of the stock were exchanged, compared to its average volume of 13,992,250. The company's 50-day moving average price is $60.44 and its two-hundred day moving average price is $88.95. 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 company has a market capitalization of $56.32 billion, a price-to-earnings ratio of -38.35, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

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

Insider Activity at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,286 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $65.00, for a total transaction of $83,590.00. Following the completion of the transaction, the chief accounting officer now owns 32,094 shares in the company, valued at approximately $2,086,110. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,176 shares of company stock valued at $2,111,528. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. KeyCorp dropped their price target on Marvell Technology from $135.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Cantor Fitzgerald lowered shares of Marvell Technology from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $125.00 to $60.00 in a research note on Wednesday, May 7th. Bank of America cut their target price on Marvell Technology from $120.00 to $72.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Loop Capital raised shares of Marvell Technology from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Thursday, March 6th. Finally, Piper Sandler decreased their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $111.27.

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.