Sound View Wealth Advisors Group LLC Decreases Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Sound View Wealth Advisors Group LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,113 shares of the semiconductor company’s stock after selling 2,231 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Marvell Technology were worth $1,338,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Marvell Technology by 0.3% during the third quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock worth $1,438,336,000 after purchasing an additional 68,893 shares in the last quarter. Geode Capital Management LLC boosted its position in Marvell Technology by 2.0% during the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock worth $818,916,000 after purchasing an additional 219,692 shares in the last quarter. Wellington Management Group LLP boosted its position in Marvell Technology by 4.3% during the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock worth $627,034,000 after purchasing an additional 359,005 shares in the last quarter. Nordea Investment Management AB boosted its position in Marvell Technology by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock worth $518,435,000 after purchasing an additional 571,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Marvell Technology by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock worth $378,594,000 after purchasing an additional 165,858 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Brad W. Buss bought 3,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $69.00 per share, with a total value of $207,000.00. Following the completion of the transaction, the director now directly owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 value of $638,100.00. Following the completion of the sale, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock worth $4,330,980 over the last three months. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $70.84 on Monday. The firm has a market capitalization of $61.30 billion, a PE ratio of -41.67, a P/E/G ratio of 1.61 and a beta of 1.42. 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 business has a 50-day moving average of $108.27 and a two-hundred day moving average of $94.00. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analysts Set New Price Targets

A number of analysts have commented on MRVL shares. Susquehanna boosted their target price on Marvell Technology from $110.00 to $125.00 and gave the stock a “positive” rating in a research report on Wednesday, December 4th. Barclays cut their price target on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday. Craig Hallum boosted 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. Needham & Company LLC cut their price target on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday. Finally, Melius began coverage on Marvell Technology in a report on Monday, January 27th. They issued a “buy” rating and a $188.00 price target for the company. Three equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.68.

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.