Boothbay Fund Management LLC Lowers Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Boothbay Fund Management LLC reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 22.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,349 shares of the semiconductor company’s stock after selling 18,287 shares during the period. Boothbay Fund Management LLC’s holdings in Marvell Technology were worth $7,107,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Marvell Technology in the 4th quarter valued at approximately $1,628,000. Coldstream Capital Management Inc. increased its holdings in Marvell Technology by 1.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,344 shares of the semiconductor company’s stock valued at $1,253,000 after purchasing an additional 116 shares during the last quarter. Capital Analysts LLC raised its position in Marvell Technology by 236.3% in the fourth quarter. Capital Analysts LLC now owns 343 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 241 shares during the period. Monolith Management Ltd acquired a new position in Marvell Technology during the fourth quarter worth $9,388,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Marvell Technology during the fourth quarter worth $677,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Insider Activity at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.83, for a total value of $103,245.00. Following the transaction, the chief financial officer now directly owns 113,592 shares of the company’s stock, valued at $7,818,537.36. The trade was a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares of the company’s stock, valued at approximately $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 a total of 27,390 shares of company stock valued at $1,937,938 in the last three months. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Price Performance

Shares of MRVL opened at $58.92 on Friday. 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 1-year low of $47.09 and a 1-year high of $127.48. The stock has a market cap of $51.03 billion, a PE ratio of -34.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The firm has a fifty day moving average price of $68.53 and a 200 day moving average price of $90.71.

Marvell Technology Dividend Announcement

The company also recently announced 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. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Analysts Set New Price Targets

MRVL has been the topic of several research reports. KeyCorp decreased their target price on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Morgan Stanley dropped their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group increased their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.