Regent Peak Wealth Advisors LLC Makes New Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

Regent Peak Wealth Advisors LLC bought a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,811 shares of the semiconductor company’s stock, valued at approximately $200,000.

Other large investors have also modified their holdings of the company. True Wealth Design LLC boosted its stake 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. Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter valued at $32,000. Whittier Trust Co. raised its position in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Marvell Technology during the 3rd quarter worth $37,000. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp lifted their price target on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer raised their price target on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Evercore ISI upped their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. raised their target price on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Insider Buying and Selling at Marvell Technology

In related news, CEO Matthew J. Murphy bought 13,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was purchased at an average cost of $77.63 per share, for a total transaction of $1,009,190.00. Following the completion of the acquisition, the chief executive officer now owns 221,915 shares in the company, valued at approximately $17,227,261.45. This trade represents a 6.22 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the sale, the executive vice president now owns 97,244 shares in the company, valued at approximately $11,912,390. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $14,550,170 in the last three months. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Trading Down 1.5 %

Marvell Technology stock traded down $1.73 during trading on Tuesday, hitting $117.28. The company had a trading volume of 5,511,308 shares, compared to its average volume of 10,341,801. 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’s 50 day simple moving average is $101.24 and its 200-day simple moving average is $81.64. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $126.15. The stock has a market cap of $101.48 billion, a price-to-earnings ratio of -68.99, a price-to-earnings-growth ratio of 4.03 and a beta of 1.41.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

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.