Trek Financial LLC Has $3.06 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Trek Financial LLC grew its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 576.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,689 shares of the semiconductor company’s stock after purchasing an additional 23,594 shares during the period. Trek Financial LLC’s holdings in Marvell Technology were worth $3,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MRVL. Polymer Capital Management HK LTD grew its stake in Marvell Technology by 711.3% in the fourth quarter. Polymer Capital Management HK LTD now owns 50,303 shares of the semiconductor company’s stock valued at $5,556,000 after acquiring an additional 44,103 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Marvell Technology in the 4th quarter valued at $139,000. Federated Hermes Inc. increased its stake in Marvell Technology by 702.2% during the 4th quarter. Federated Hermes Inc. now owns 377,031 shares of the semiconductor company’s stock valued at $41,643,000 after purchasing an additional 330,034 shares in the last quarter. Darden Wealth Group Inc acquired a new position in Marvell Technology during the fourth quarter worth $264,000. Finally, Himension Capital Singapore PTE. LTD. bought a new position in shares of Marvell Technology in the fourth quarter valued at $6,782,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Marvell Technology Trading Down 11.2 %

Shares of Marvell Technology stock opened at $49.43 on Friday. The company has a 50 day simple moving average of $87.42 and a two-hundred day simple moving average of $93.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The firm has a market cap of $42.81 billion, a PE ratio of -29.08, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $47.31 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. Marvell Technology’s payout ratio is -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the acquisition, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This trade represents a 3.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares in the company, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,185 shares of company stock valued at $3,744,268 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MRVL. Benchmark restated a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Summit Insights lowered Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Morgan Stanley decreased their price target on Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Piper Sandler dropped their price objective on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

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.