Miracle Mile Advisors LLC Buys 147 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Miracle Mile Advisors LLC raised its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,773 shares of the semiconductor company’s stock after purchasing an additional 147 shares during the period. Miracle Mile Advisors LLC’s holdings in Marvell Technology were worth $2,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC grew its position in Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC increased its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 149 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Marvell Technology during the 2nd quarter valued at $32,000. Quarry LP bought a new stake in Marvell Technology in the second quarter worth $32,000. Finally, Kieckhefer Group LLC purchased a new position in Marvell Technology during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MRVL shares. Piper Sandler restated 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. Oppenheimer boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and issued a $135.00 price target (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, TD Cowen increased their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $121.68.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock valued at $2,967,670 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

MRVL opened at $115.15 on Tuesday. 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 firm has a 50 day moving average of $103.93 and a two-hundred day moving average of $82.98. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15. The firm has a market capitalization of $99.64 billion, a PE ratio of -67.73, a P/E/G ratio of 4.03 and a beta of 1.41.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. Marvell Technology’s payout ratio is currently -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.