GeoWealth Management LLC Buys 2,733 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

GeoWealth Management LLC grew its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 266.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,757 shares of the semiconductor company’s stock after purchasing an additional 2,733 shares during the quarter. GeoWealth Management LLC’s holdings in Marvell Technology were worth $415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. M&T Bank Corp boosted its holdings in Marvell Technology by 0.5% during the third quarter. M&T Bank Corp now owns 87,005 shares of the semiconductor company’s stock valued at $6,275,000 after acquiring an additional 448 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in Marvell Technology by 8.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company’s stock valued at $1,716,000 after purchasing an additional 1,773 shares during the period. World Investment Advisors LLC increased its position in Marvell Technology by 1.4% in the 3rd quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock worth $2,911,000 after buying an additional 560 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Marvell Technology in the 3rd quarter worth approximately $3,432,000. Finally, Synovus Financial Corp lifted its holdings in shares of Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after buying an additional 2,445 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley cut their target price 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. Bank of America cut their price target on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Barclays cut their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued 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 a consensus target price of $116.41.

Insider Buying and Selling

In other news, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at $2,138,125. This represents a 4.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the 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 owns 113,592 shares in the company, valued at $7,818,537.36. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,930 shares of company stock valued at $1,999,038 over the last three months. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Down 4.5 %

Shares of NASDAQ MRVL opened at $49.38 on Tuesday. The firm’s 50-day moving average is $72.60 and its 200-day moving average is $91.34. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The firm has a market capitalization of $42.77 billion, a PE ratio of -29.05, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

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.