Harbour Investments Inc. Acquires 613 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Harbour Investments Inc. lifted its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 42.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,068 shares of the semiconductor company’s stock after acquiring an additional 613 shares during the period. Harbour Investments Inc.’s holdings in Marvell Technology were worth $228,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in shares of Marvell Technology in the 4th quarter valued at about $26,000. ORG Partners LLC lifted 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. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology in the 4th quarter valued at about $27,000. Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology in the 4th quarter valued at about $33,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MRVL. Craig Hallum raised their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. 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 research note on Thursday, March 6th. TD Cowen decreased their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note 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 research note on Thursday, March 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Price Performance

NASDAQ MRVL opened at $70.39 on Friday. The firm’s fifty day simple moving average is $99.06 and its two-hundred day simple moving average is $93.52. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market capitalization of $60.96 billion, a P/E ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.34%. Marvell Technology’s payout ratio is currently -23.53%.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael G. Strachan sold 5,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the transaction, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,685 shares of company stock worth $4,026,768. Company insiders own 0.33% of the company’s stock.

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.