Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 46.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,236,727 shares of the semiconductor company’s stock after selling 1,080,467 shares during the quarter. First Trust Advisors LP’s holdings in Marvell Technology were worth $136,596,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp grew its stake in Marvell Technology by 0.5% in the 3rd quarter. M&T Bank Corp now owns 87,005 shares of the semiconductor company’s stock valued at $6,275,000 after acquiring an additional 448 shares during the period. Pine Valley Investments Ltd Liability Co raised its position in Marvell Technology by 8.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 23,799 shares of the semiconductor company’s stock worth $1,716,000 after acquiring an additional 1,773 shares during the period. World Investment Advisors LLC lifted its holdings in Marvell Technology by 1.4% during the third quarter. World Investment Advisors LLC now owns 40,366 shares of the semiconductor company’s stock valued at $2,911,000 after purchasing an additional 560 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Marvell Technology in the third quarter valued at about $3,432,000. Finally, Synovus Financial Corp increased its stake in shares of Marvell Technology by 60.5% during the third quarter. Synovus Financial Corp now owns 6,489 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 2,445 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $51.70 on Friday. The company’s 50 day simple moving average is $73.72 and its 200-day simple moving average is $91.37. 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 1 year low of $47.09 and a 1 year high of $127.48. The company has a market capitalization of $44.78 billion, a price-to-earnings ratio of -30.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Insiders Place Their Bets

In related 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 owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,930 shares of company stock worth $1,999,038 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

MRVL has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Melius assumed coverage on Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Stifel Nicolaus dropped their price target on Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group lifted their target price 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 investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

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.