Coastal Bridge Advisors LLC Invests $258,000 in Marvell Technology, Inc. (NASDAQ:MRVL)

Coastal Bridge Advisors LLC purchased a new position in Marvell Technology, Inc. (NASDAQ:MRVL) in the 4th quarter, HoldingsChannel reports. The fund purchased 2,338 shares of the semiconductor company’s stock, valued at approximately $258,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC boosted its position in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Centricity Wealth Management LLC purchased a new position in Marvell Technology during the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology in the 4th quarter valued at $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at about $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology during the fourth quarter valued at approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MRVL. Rosenblatt Securities reissued a “buy” rating and set a $140.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Piper Sandler lowered their target price on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Benchmark cut their price target on shares of Marvell Technology from $135.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday. Stifel Nicolaus lowered their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, KeyCorp lowered their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $110.30.

Insider Buying and Selling

In other news, EVP Mark Casper sold 12,460 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $685,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the completion of the acquisition, the director now directly owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 28,890 shares of company stock valued at $2,027,938. 0.33% of the stock is owned by corporate insiders.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $56.31 on Thursday. 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 52 week low of $47.09 and a 52 week high of $127.48. The stock’s 50-day moving average price is $62.33 and its 200-day moving average price is $89.62. The stock has a market capitalization of $48.64 billion, a PE ratio of -33.12, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Friday, April 11th were paid a $0.06 dividend. The ex-dividend date was Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.43%. Marvell Technology’s dividend payout ratio is currently -23.53%.

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.