EntryPoint Capital LLC Makes New $306,000 Investment in Marvell Technology, Inc. (NASDAQ:MRVL)

EntryPoint Capital LLC bought a new stake in Marvell Technology, Inc. (NASDAQ:MRVL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,766 shares of the semiconductor company’s stock, valued at approximately $306,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new stake in Marvell Technology during the 4th quarter valued at about $26,000. ORG Partners LLC grew 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 valued at $26,000 after purchasing an additional 149 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at approximately $27,000. Kieckhefer Group LLC purchased a new position in Marvell Technology during the fourth quarter worth approximately $33,000. Finally, Financial Life Planners acquired a new position in Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Stock Down 2.8 %

Shares of NASDAQ:MRVL opened at $64.86 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $95.30 and its 200-day simple moving average is $93.52. The company has a market cap of $56.17 billion, a price-to-earnings ratio of -38.15, a PEG ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,685 shares of company stock worth $4,026,768. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MRVL. Craig Hallum lifted their price target on Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Stifel Nicolaus dropped their target price on shares of Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Rosenblatt Securities reissued a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a research report on Thursday, March 6th. Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Finally, Needham & Company LLC reduced their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average target price of $120.44.

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.