Van ECK Associates Corp Sells 268,069 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Van ECK Associates Corp lowered its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,203,754 shares of the semiconductor company’s stock after selling 268,069 shares during the period. Marvell Technology comprises about 1.0% of Van ECK Associates Corp’s investment portfolio, making the stock its 21st biggest position. Van ECK Associates Corp owned 0.83% of Marvell Technology worth $795,654,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 326 shares during the period. ORG Partners LLC lifted its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in Marvell Technology during the 4th quarter valued at about $33,000. Financial Life Planners bought a new position in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Whittier Trust Co. increased its stake in Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling at Marvell Technology

In related news, 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 sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction 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. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by insiders.

Marvell Technology Trading Down 3.4 %

Shares of NASDAQ MRVL opened at $105.42 on Thursday. The company has a 50 day simple moving average of $114.27 and a two-hundred day simple moving average of $90.05. 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.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MRVL. Cantor Fitzgerald increased their price objective on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Benchmark reiterated a “buy” rating and set a $135.00 target price (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, B. Riley raised their target price on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Company 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.