Premier Path Wealth Partners LLC Acquires New Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Premier Path Wealth Partners LLC bought a new position in Marvell Technology, Inc. (NASDAQ:MRVL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,347 shares of the semiconductor company’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Marvell Technology by 21.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company’s stock valued at $2,344,000 after purchasing an additional 5,969 shares in the last quarter. Intech Investment Management LLC lifted its stake in Marvell Technology by 14.7% in the 2nd quarter. Intech Investment Management LLC now owns 89,450 shares of the semiconductor company’s stock valued at $6,253,000 after acquiring an additional 11,441 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in Marvell Technology during the 2nd quarter worth approximately $255,000. AE Wealth Management LLC raised its holdings in shares of Marvell Technology by 64.5% in the second quarter. AE Wealth Management LLC now owns 57,771 shares of the semiconductor company’s stock valued at $4,038,000 after purchasing an additional 22,642 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Marvell Technology by 28.8% in the second quarter. Pacer Advisors Inc. now owns 52,685 shares of the semiconductor company’s stock worth $3,683,000 after purchasing an additional 11,792 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on MRVL shares. Citigroup increased their price objective on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. UBS Group raised their price target on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price objective on Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Loop Capital boosted their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, KeyCorp raised their target price on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.96.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,755 shares of company stock valued at $3,615,030. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $124.76 on Monday. Marvell Technology, Inc. has a one year low of $53.19 and a one year high of $126.15. The company has a market cap of $107.95 billion, a PE ratio of -73.39, a P/E/G ratio of 3.76 and a beta of 1.41. The stock has a 50-day moving average of $106.70 and a 200-day moving average of $84.64. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

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.