Proficio Capital Partners LLC Invests $361,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Proficio Capital Partners LLC acquired a new stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,267 shares of the semiconductor company’s stock, valued at approximately $361,000.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. Lodestone Wealth Management LLC raised its holdings in shares of Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. increased its position in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after acquiring an additional 96 shares during the period. Private Trust Co. NA raised its stake in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 97 shares in the last quarter. Waldron Private Wealth LLC boosted its position in Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 103 shares during the period. Finally, Tsfg LLC increased its holdings in shares of Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 111 shares during the period. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 1.5 %

NASDAQ:MRVL opened at $71.67 on Wednesday. The business’s fifty day moving average price is $97.34 and its 200 day moving average price is $93.91. The firm has a market capitalization of $62.07 billion, a price-to-earnings ratio of -42.16, a PEG ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 yield of 0.33%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analyst Ratings Changes

MRVL has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Bank of America decreased their price objective on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Raymond James set a $110.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Barclays cut their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, William Blair raised Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,685 shares of company stock worth $4,026,768 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

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.