Apollon Wealth Management LLC Sells 2,905 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Apollon Wealth Management LLC decreased its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,307 shares of the semiconductor company’s stock after selling 2,905 shares during the period. Apollon Wealth Management LLC’s holdings in Marvell Technology were worth $4,121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MRVL. Zweig DiMenna Associates LLC grew its holdings in shares of Marvell Technology by 6.3% during the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after purchasing an additional 12,700 shares in the last quarter. Berbice Capital Management LLC purchased a new position in Marvell Technology in the 4th quarter worth approximately $637,000. RFG Advisory LLC increased its holdings in shares of Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after buying an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in shares of Marvell Technology in the 3rd quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Susquehanna increased their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research report on Wednesday, December 4th. B. Riley boosted their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Down 7.2 %

Shares of Marvell Technology stock opened at $110.62 on Friday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The company has a 50-day moving average of $113.95 and a 200 day moving average of $88.97. The firm has a market cap of $95.72 billion, a price-to-earnings ratio of -65.07, a PEG ratio of 1.77 and a beta of 1.40.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Activity at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chris Koopmans sold 6,000 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 transaction of $534,840.00. Following the completion of the transaction, the executive vice president now directly owns 103,244 shares of the company’s stock, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

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.