Retireful LLC Acquires New Shares in Marvell Technology, Inc. (NASDAQ:MRVL)

17 Jan 2025, 08:04 by Teresa Graham · The Cerbat Gem

Retireful LLC bought a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) in the 4th quarter, HoldingsChannel.com reports. The fund bought 13,243 shares of the semiconductor company’s stock, valued at approximately $1,463,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its position in shares of Marvell Technology by 1,481.8% during the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Marvell Technology during the second quarter valued at about $32,000. Quarry LP purchased a new stake in shares of Marvell Technology in the 2nd quarter valued at approximately $32,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of Marvell Technology stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the transaction, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the completion of the sale, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at $8,823,637.88. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,500 shares of company stock worth $2,967,670. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MRVL. Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company increased their target price on Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday. B. Riley lifted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Benchmark reissued a “buy” rating and set a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.68.

View Our Latest Research Report on MRVL

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $117.58 on Friday. The stock’s 50-day simple moving average is $106.09 and its 200-day simple moving average is $84.09. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.20%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Marvell Technology Profile

(Free Report)