Alliancebernstein L.P. Trims Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Alliancebernstein L.P. lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,570 shares of the semiconductor company’s stock after selling 82,919 shares during the quarter. Alliancebernstein L.P. owned approximately 0.06% of Marvell Technology worth $56,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MRVL. ORG Partners LLC raised its position in shares of Marvell Technology by 175.3% in the fourth 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 acquired a new position in Marvell Technology in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth $27,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. Finally, Financial Life Planners acquired a new stake in shares of Marvell Technology during the fourth quarter worth $33,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Trading Down 11.2 %

NASDAQ:MRVL opened at $49.43 on Friday. Marvell Technology, Inc. has a one year low of $47.31 and a one year high of $127.48. The business’s 50-day simple moving average is $87.42 and its 200 day simple moving average is $92.94. 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 stock has a market cap of $42.81 billion, a price-to-earnings ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Marvell Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Analysts Set New Price Targets

Several research firms recently weighed in on MRVL. Roth Capital set a $100.00 target price on Marvell Technology in a research report on Thursday, March 6th. Summit Insights lowered shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Needham & Company LLC decreased their target price on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. KeyCorp dropped their price target on shares of Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group increased their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.44.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brad W. Buss bought 3,000 shares of Marvell Technology stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now owns 87,113 shares in the company, valued at $6,010,797. The trade was a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 35,185 shares of company stock worth $3,744,268. Insiders own 0.33% of the company’s stock.

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.