Scissortail Wealth Management LLC Buys Shares of 2,281 Marvell Technology, Inc. (NASDAQ:MRVL)

Scissortail Wealth Management LLC purchased a new position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,281 shares of the semiconductor company’s stock, valued at approximately $252,000.

Several other hedge funds also recently made changes to their positions in MRVL. Centricity Wealth Management LLC bought a new position in Marvell Technology in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $27,000. Financial Life Planners bought a new position in shares of Marvell Technology in the fourth quarter valued at $33,000. Lee Danner & Bass Inc. acquired a new position in Marvell Technology during the fourth quarter worth $35,000. Finally, Capital Analysts LLC raised its position in Marvell Technology by 236.3% during the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 241 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $9,351,461.85. This represents a 6.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $55.00, for a total transaction of $685,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,915 shares of company stock worth $2,679,800 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MRVL. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research report on Thursday, March 6th. Cantor Fitzgerald downgraded Marvell Technology from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $60.00 in a research report on Wednesday, May 7th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Finally, Benchmark dropped their price target on Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.27.

Marvell Technology Stock Down 2.2%

Shares of MRVL opened at $63.76 on Friday. 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 12 month low of $47.09 and a 12 month high of $127.48. The firm’s 50 day moving average is $60.36 and its 200-day moving average is $88.68. The stock has a market capitalization of $55.08 billion, a PE ratio of -37.51, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s dividend payout ratio is currently -23.53%.

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.