2,606 Shares in Marvell Technology, Inc. (NASDAQ:MRVL) Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,606 shares of the semiconductor company’s stock, valued at approximately $288,000.

Several other large investors have also recently made changes to their positions in MRVL. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology in the 4th quarter worth about $26,000. ORG Partners LLC raised its position in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC purchased a new position in Marvell Technology in the fourth quarter valued at about $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the 4th quarter valued at approximately $33,000. Finally, GHP Investment Advisors Inc. increased its stake in shares of Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 112 shares during the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, 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. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last 90 days. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on MRVL shares. Melius Research upgraded Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Barclays reiterated an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Stifel Nicolaus boosted their price objective on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company increased their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Trading Down 6.5 %

Shares of Marvell Technology stock opened at $85.83 on Tuesday. 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 1 year low of $53.19 and a 1 year high of $127.48. The firm has a market cap of $74.27 billion, a PE ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. The company has a 50 day simple moving average of $111.63 and a two-hundred day simple moving average of $93.59.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.28%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

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.