Strategic Investment Solutions Inc. IL Acquires 885 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Strategic Investment Solutions Inc. IL increased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 182.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,369 shares of the semiconductor company’s stock after purchasing an additional 885 shares during the quarter. Strategic Investment Solutions Inc. IL’s holdings in Marvell Technology were worth $151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MRVL. ORG Partners LLC lifted its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $27,000. Kieckhefer Group LLC bought a new stake in Marvell Technology in the fourth quarter valued at approximately $33,000. Finally, Financial Life Planners purchased a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Price Performance

MRVL opened at $51.93 on Thursday. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock has a 50-day moving average price of $76.09 and a 200-day moving average price of $91.51. The firm has a market cap of $44.97 billion, a PE ratio of -30.55, a P/E/G ratio of 1.61 and a beta of 1.78. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.46%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insider Activity

In other news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $412,980.00. Following the transaction, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at $5,639,310.73. This represents a 6.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the transaction, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,685 shares of company stock worth $2,953,523 over the last 90 days. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MRVL has been the topic of several analyst reports. Piper Sandler decreased their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Citigroup decreased their price objective on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC cut their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Raymond James set a $110.00 price target on Marvell Technology in a research report on Thursday, March 6th. Three equities research 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 stock. Based on data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus target price of $117.70.

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.