Principle Wealth Partners LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Principle Wealth Partners LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, HoldingsChannel reports. The firm bought 2,038 shares of the semiconductor company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Savant Capital LLC boosted its holdings in shares of Marvell Technology by 7.7% in the 4th quarter. Savant Capital LLC now owns 13,430 shares of the semiconductor company’s stock worth $1,483,000 after purchasing an additional 959 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Marvell Technology by 22.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,440 shares of the semiconductor company’s stock worth $269,000 after purchasing an additional 440 shares during the period. 17 Capital Partners LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $469,000. Compass Financial Services Inc purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Marvell Technology in the 4th quarter worth approximately $663,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the completion of the sale, the executive vice president now owns 93,931 shares in the company, valued at $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

MRVL stock opened at $109.12 on Wednesday. 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 cap of $94.42 billion, a P/E ratio of -64.19, a P/E/G ratio of 1.77 and a beta of 1.40. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The stock’s 50 day simple moving average is $114.53 and its 200 day simple moving average is $89.94.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MRVL. Citigroup boosted their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley lowered their target price on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Stifel Nicolaus upped their target price on Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Craig Hallum boosted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.