Scissortail Wealth Management LLC Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

Scissortail Wealth Management LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, HoldingsChannel.com reports. The fund bought 2,281 shares of the semiconductor company’s stock, valued at approximately $252,000.

Several other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. grew its holdings in shares of Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Marvell Technology by 6.9% in the 4th quarter. Janus Henderson Group PLC now owns 13,239,154 shares of the semiconductor company’s stock valued at $1,462,274,000 after purchasing an additional 857,087 shares during the last quarter. Wellington Management Group LLP boosted its position in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after buying an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Marvell Technology by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after buying an additional 80,005 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Marvell Technology during the fourth quarter worth $1,138,354,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,915 shares of company stock worth $2,679,800. 0.19% of the stock is owned by corporate insiders.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $63.76 on Friday. The business has a 50-day moving average price of $60.36 and a two-hundred day moving average price of $88.68. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a market cap of $55.08 billion, a P/E ratio of -37.51, a PEG ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.38%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of research reports. William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Benchmark dropped their target price on Marvell Technology from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Rosenblatt Securities reissued a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. TD Cowen reduced their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley dropped their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.27.

Marvell Technology 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.