FIL Ltd Decreases Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

FIL Ltd lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,237,939 shares of the semiconductor company’s stock after selling 105,658 shares during the quarter. FIL Ltd owned 0.37% of Marvell Technology worth $357,630,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC grew its holdings in 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 acquired a new position in shares of Marvell Technology during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Marvell Technology in the fourth quarter valued at $27,000. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners purchased a new stake in Marvell Technology during the 4th quarter worth about $33,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRVL. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Barclays cut their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. KeyCorp reduced 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, Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Thursday, March 6th. Three 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’s stock. According to MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $51.00 on Tuesday. The firm has a market capitalization of $44.17 billion, a price-to-earnings ratio of -30.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. 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’s 50 day simple moving average is $86.44 and its 200-day simple moving average is $93.06. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

Insider Buying and Selling

In other Marvell Technology 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 filing with the SEC, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,185 shares of company stock worth $3,131,018 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology 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.