Pine Valley Investments Ltd Liability Co Sells 1,080 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Pine Valley Investments Ltd Liability Co cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,719 shares of the semiconductor company’s stock after selling 1,080 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Marvell Technology were worth $2,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $26,000. ORG Partners LLC lifted its holdings 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 worth $26,000 after acquiring an additional 149 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Financial Life Planners bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Marvell Technology by 48.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 112 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Benchmark reiterated a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Cantor Fitzgerald upped their price target on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Melius assumed coverage on shares of Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 price target for the company. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Marvell Technology in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Insider Transactions at Marvell Technology

In related news, EVP Mark Casper sold 7,755 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,255 shares of company stock valued at $4,330,980 in the last three months. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Down 5.0 %

NASDAQ:MRVL opened at $93.00 on Wednesday. The firm’s 50-day moving average price is $112.66 and its 200-day moving average price is $92.99. The company has a market capitalization of $80.47 billion, a PE ratio of -54.71, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

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.