Arkadios Wealth Advisors Has $637,000 Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Arkadios Wealth Advisors lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,771 shares of the semiconductor company’s stock after selling 147 shares during the quarter. Arkadios Wealth Advisors’ holdings in Marvell Technology were worth $637,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MRVL. Mercer Global Advisors Inc. ADV raised its stake in shares of Marvell Technology by 21.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company’s stock valued at $2,344,000 after acquiring an additional 5,969 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Marvell Technology by 28.8% in the second quarter. Pacer Advisors Inc. now owns 52,685 shares of the semiconductor company’s stock worth $3,683,000 after buying an additional 11,792 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Marvell Technology by 208.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 307,225 shares of the semiconductor company’s stock worth $21,476,000 after buying an additional 207,773 shares during the period. Summit Trail Advisors LLC grew its stake in Marvell Technology by 7.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 5,805 shares of the semiconductor company’s stock valued at $406,000 after buying an additional 397 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Marvell Technology by 20.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,818 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 305 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MRVL has been the subject of a number of recent analyst reports. KeyCorp raised their price target on Marvell Technology from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price target on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.96.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the transaction, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,755 shares of company stock worth $3,615,030. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $123.78 on Wednesday. The firm has a market cap of $107.11 billion, a PE ratio of -72.81, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41. The company’s 50-day moving average price is $107.97 and its two-hundred day moving average price is $85.37. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $126.15.

Marvell Technology Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.19%. Marvell Technology’s dividend payout ratio 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.