First American Trust FSB Has $13.55 Million Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

First American Trust FSB trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,690 shares of the semiconductor company’s stock after selling 6,192 shares during the quarter. Marvell Technology makes up about 1.4% of First American Trust FSB’s investment portfolio, making the stock its 18th largest holding. First American Trust FSB’s holdings in Marvell Technology were worth $13,551,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MRVL. True Wealth Design LLC increased 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 worth $25,000 after buying an additional 326 shares during the last quarter. ORG Partners LLC boosted its stake in shares of Marvell Technology by 175.3% during 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 in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Marvell Technology during the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at about $27,000. Finally, Kieckhefer Group LLC bought a new position in shares of Marvell Technology in the 4th quarter valued at approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of several analyst reports. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Oppenheimer raised their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Melius assumed coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Roth Capital set a $100.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Finally, William Blair upgraded Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total transaction of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock valued at $4,026,768 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $72.76 on Tuesday. The stock has a market capitalization of $63.01 billion, a price-to-earnings ratio of -42.80, a P/E/G ratio of 1.61 and a beta of 1.42. The firm’s 50-day moving average price is $98.21 and its two-hundred day moving average price is $93.87. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. 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 declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.33%. Marvell Technology’s dividend payout ratio is -23.53%.

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.