Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,242 shares of the semiconductor company’s stock after selling 2,814 shares during the quarter. D.A. Davidson & CO.’s holdings in Marvell Technology were worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MRVL. Exchange Traded Concepts LLC increased its stake in shares of Marvell Technology by 125.4% in the third quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 336 shares during the period. Creative Planning increased its stake in shares of Marvell Technology by 37.5% in the third quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock valued at $7,482,000 after purchasing an additional 28,286 shares during the period. Swedbank AB increased its stake in shares of Marvell Technology by 1.0% in the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares during the period. Blue Trust Inc. increased its stake in shares of Marvell Technology by 19.6% in the third quarter. Blue Trust Inc. now owns 7,102 shares of the semiconductor company’s stock valued at $496,000 after purchasing an additional 1,164 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Up 3.5 %

Marvell Technology stock opened at $111.04 on Thursday. The company has a 50 day moving average price of $113.93 and a 200 day moving average price of $91.57. The firm has a market capitalization of $96.08 billion, a price-to-earnings ratio of -65.32, a P/E/G ratio of 1.58 and a beta of 1.40. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week high of $127.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Dividend Announcement

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

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 on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $735,000.00. Following the completion of the sale, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 in the last quarter. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MRVL. Bank of America raised their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Susquehanna raised their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target 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.