Shelton Capital Management Sells 1,417 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Shelton Capital Management decreased its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,186 shares of the semiconductor company’s stock after selling 1,417 shares during the quarter. Shelton Capital Management’s holdings in Marvell Technology were worth $11,397,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Southeast Asset Advisors LLC raised its stake in Marvell Technology by 4.1% during the 4th quarter. Southeast Asset Advisors LLC now owns 5,100 shares of the semiconductor company’s stock worth $563,000 after buying an additional 200 shares during the period. Krane Funds Advisors LLC acquired a new stake in Marvell Technology in the fourth quarter valued at about $205,000. Invesco Ltd. raised its position in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after purchasing an additional 3,737,705 shares during the last quarter. Bank of Montreal Can boosted its position in Marvell Technology by 191.1% during the 4th quarter. Bank of Montreal Can now owns 786,860 shares of the semiconductor company’s stock worth $86,909,000 after buying an additional 516,571 shares during the period. Finally, Concentrum Wealth Management acquired a new position in shares of Marvell Technology during the fourth quarter worth $261,000. 83.51% of the stock is currently owned by institutional investors.

Insider Activity at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now directly owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,185 shares of company stock worth $3,131,018 in the last ninety days. 0.33% of the stock is owned by company insiders.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $51.00 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The company has a fifty day moving average of $86.44 and a 200-day moving average of $93.06. The stock 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.

Marvell Technology Announces Dividend

The business 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 $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.47%. Marvell Technology’s dividend payout ratio is currently -23.53%.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Barclays decreased their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Craig Hallum increased 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. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Citigroup cut their target price on Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.44.

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.