GPS Wealth Strategies Group LLC Acquires 1,144 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

GPS Wealth Strategies Group LLC boosted its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 150.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,903 shares of the semiconductor company’s stock after purchasing an additional 1,144 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Marvell Technology were worth $210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley National Advisers Inc. lifted its holdings in shares of Marvell Technology by 0.4% during the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after buying an additional 96 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Marvell Technology in the 4th quarter worth about $2,297,000. Spire Wealth Management raised its stake in Marvell Technology by 378.6% in the 4th quarter. Spire Wealth Management now owns 73,063 shares of the semiconductor company’s stock worth $8,070,000 after purchasing an additional 57,798 shares in the last quarter. Journey Strategic Wealth LLC acquired a new position in shares of Marvell Technology during the 4th quarter worth approximately $313,000. Finally, SYM FINANCIAL Corp bought a new position in shares of Marvell Technology during the fourth quarter worth approximately $263,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Price Performance

MRVL stock opened at $112.86 on Monday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The business has a 50-day moving average price of $111.72 and a 200 day moving average price of $87.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is currently -14.12%.

Wall Street Analyst Weigh In

MRVL has been the subject of several analyst reports. Morgan Stanley dropped their price objective on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Bank of America boosted their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Susquehanna increased their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, December 4th. Oppenheimer boosted their target price 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. Finally, Barclays increased their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the sale, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 over the last quarter. Insiders own 0.33% of the company’s stock.

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.