Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Citizens Business Bank

Citizens Business Bank reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 44,577 shares of the semiconductor company’s stock after selling 1,174 shares during the period. Citizens Business Bank’s holdings in Marvell Technology were worth $4,924,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology in the fourth quarter worth $26,000. ORG Partners LLC boosted its stake in Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of Marvell Technology during the fourth quarter worth about $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $33,000. Finally, Financial Life Planners bought a new stake in Marvell Technology during the fourth quarter valued at $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MRVL has been the subject of a number of research reports. Citigroup decreased their target price on Marvell Technology from $122.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Piper Sandler lowered their price target on Marvell Technology from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Rosenblatt Securities restated a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. Needham & Company LLC reduced their target price on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.30.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $56.31 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company has a market cap of $48.64 billion, a P/E ratio of -33.12, a P/E/G ratio of 1.61 and a beta of 1.83. The business’s 50 day moving average is $62.33 and its two-hundred day moving average is $89.62. Marvell Technology, Inc. has a 12 month low of $47.09 and a 12 month high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is presently -23.53%.

Insider Buying and Selling at Marvell Technology

In other news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares of the company’s stock, valued at approximately $6,010,797. The trade was a 3.57 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 28,890 shares of company stock valued at $2,027,938 in the last 90 days. 0.33% of the stock is currently owned by company 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.