Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,279,115 shares of the semiconductor company’s stock after selling 17,393 shares during the quarter. Stifel Financial Corp’s holdings in Marvell Technology were worth $141,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Zweig DiMenna Associates LLC lifted its holdings in Marvell Technology by 6.3% in the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new position in Marvell Technology in the fourth quarter worth approximately $637,000. RFG Advisory LLC lifted its position in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Franchise Capital Ltd bought a new stake in shares of Marvell Technology during the 4th quarter worth $1,476,000. Finally, United Asset Strategies Inc. raised its position in shares of Marvell Technology by 7.1% during the fourth quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock worth $24,287,000 after purchasing an additional 14,547 shares during the period. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MRVL. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday, March 6th. Piper Sandler lowered their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. TD Cowen reduced their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Melius started coverage on Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Finally, Roth Capital set a $100.00 target price on Marvell Technology 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.41.

Insider Buying and Selling

In related news, CAO Panteha Dixon sold 1,430 shares of the firm’s stock in a transaction that occurred 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 owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was 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 represents a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,930 shares of company stock valued at $1,999,038 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

MRVL opened at $49.38 on Tuesday. The stock has a market cap of $42.77 billion, a PE ratio of -29.05, a P/E/G ratio of 1.61 and a beta of 1.78. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48. The stock’s 50 day simple moving average is $72.60 and its 200-day simple moving average is $91.34. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

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.