Voya Financial Advisors Inc. Sells 175 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Voya Financial Advisors Inc. trimmed its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 6,679 shares of the semiconductor company’s stock after selling 175 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Marvell Technology were worth $746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Marvell Technology in the 4th quarter valued at about $1,138,354,000. GQG Partners LLC bought a new stake in shares of Marvell Technology during the fourth quarter valued at approximately $802,410,000. Wellington Management Group LLP raised its position in shares of Marvell Technology by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares during the period. Invesco Ltd. lifted its holdings in shares of Marvell Technology by 30.1% in the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock worth $1,784,649,000 after purchasing an additional 3,737,705 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Marvell Technology during the 4th quarter valued at $366,896,000. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 6.6 %

Shares of MRVL opened at $57.33 on Friday. The firm has a market cap of $49.65 billion, a price-to-earnings ratio of -33.72, a PEG ratio of 1.61 and a beta of 1.78. The firm has a 50 day moving average price of $69.50 and a 200-day moving average price of $90.68. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week high of $127.48. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.42%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction that occurred 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 owns 113,592 shares in the company, valued at approximately $7,818,537.36. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,390 shares of company stock worth $1,937,938. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MRVL. Roth Capital set a $100.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. William Blair upgraded Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of Marvell Technology in a report on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Marvell Technology in a report on Thursday, March 6th. Finally, Citigroup reduced their target price on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.56.

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.