IHT Wealth Management LLC Reduces Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

IHT Wealth Management LLC cut its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,176 shares of the semiconductor company’s stock after selling 2,807 shares during the period. IHT Wealth Management LLC’s holdings in Marvell Technology were worth $1,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth $26,000. ORG Partners LLC lifted its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after buying an additional 149 shares during the period. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the 4th quarter valued at approximately $27,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Financial Life Planners bought a new position in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Institutional investors own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the topic of several research reports. TD Cowen dropped their price target on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. Bank of America lowered their price target on shares of Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus cut their price objective on shares of Marvell Technology from $115.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $114.56.

Marvell Technology Stock Performance

Shares of MRVL opened at $53.76 on Thursday. The firm has a market capitalization of $46.56 billion, a P/E ratio of -31.63, a PEG 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. Marvell Technology, Inc. has a one year low of $47.09 and a one year high of $127.48. The business has a fifty day moving average of $70.48 and a 200 day moving average of $90.80.

Marvell Technology Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total value of $103,245.00. Following the completion of the sale, the chief financial officer now directly owns 113,592 shares in the company, valued at $7,818,537.36. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,930 shares of company stock valued at $1,252,638 in the last quarter. 0.33% of the stock is currently owned by insiders.

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.