Centricity Wealth Management LLC Acquires Shares of 231 Marvell Technology, Inc. (NASDAQ:MRVL)

Centricity Wealth Management LLC acquired a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 231 shares of the semiconductor company’s stock, valued at approximately $26,000.

A number of other large investors have also recently made changes to their positions in MRVL. True Wealth Design LLC lifted its position in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC lifted its position in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Finally, Goodman Advisory Group LLC bought a new position in shares of Marvell Technology during the third quarter valued at about $37,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Performance

Marvell Technology stock opened at $103.85 on Friday. The firm’s fifty day moving average price is $113.59 and its 200-day moving average price is $92.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock has a market cap of $89.86 billion, a P/E ratio of -61.09, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $11,685,016.40. This trade represents a 6.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,255 shares of company stock valued at $4,330,980. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MRVL shares. Oppenheimer raised their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. B. Riley upped their price target on shares of Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Melius started coverage on shares of Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Finally, Morgan Stanley restated an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. 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, Marvell Technology currently has a consensus rating of “Moderate Buy” and an average target price 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.