Edmond DE Rothschild Holding S.A. Sells 54,005 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Edmond DE Rothschild Holding S.A. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 47.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,868 shares of the semiconductor company’s stock after selling 54,005 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Marvell Technology were worth $6,723,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. ORG Partners LLC raised its position in 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 buying an additional 149 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology during the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology during the 4th quarter worth $27,000. Finally, Kieckhefer Group LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth $33,000. Institutional investors own 83.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MRVL. Oppenheimer boosted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Benchmark restated a “buy” rating and issued a $135.00 target price on shares of Marvell Technology in a research note on Thursday, March 6th. Citigroup decreased their price target on Marvell Technology from $136.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Roth Capital set a $100.00 target price on Marvell Technology in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Insider Buying and Selling

In other news, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,685 shares of company stock worth $4,026,768. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $61.57 on Tuesday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The stock has a fifty day moving average of $92.78 and a 200 day moving average of $93.66. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The firm has a market capitalization of $53.32 billion, a price-to-earnings ratio of -36.22, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s 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.