Malaga Cove Capital LLC Lowers Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Malaga Cove Capital LLC cut its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,208 shares of the semiconductor company’s stock after selling 1,402 shares during the quarter. Marvell Technology makes up approximately 1.5% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 15th largest holding. Malaga Cove Capital LLC’s holdings in Marvell Technology were worth $3,778,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MRVL. Zweig DiMenna Associates LLC increased 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 worth $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the 4th quarter valued at $637,000. RFG Advisory LLC lifted its holdings in Marvell Technology by 6.2% in the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in Marvell Technology by 7.1% in the 4th quarter. United Asset Strategies Inc. now owns 219,888 shares of the semiconductor company’s stock valued at $24,287,000 after purchasing an additional 14,547 shares in the last quarter. Finally, Prudent Investors Network Inc. purchased a new position in shares of Marvell Technology during the 4th quarter worth $248,000. 83.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, March 6th. KeyCorp reduced their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Benchmark reduced their price objective on Marvell Technology from $135.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Roth Capital set a $100.00 price target on Marvell Technology in a research note on Thursday, March 6th. Finally, Needham & Company LLC cut their price objective on Marvell Technology from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $111.27.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $65.48 on Wednesday. Marvell Technology, Inc. has a 52-week low of $47.09 and a 52-week high of $127.48. The stock’s 50-day simple moving average is $60.54 and its 200 day simple moving average is $89.11. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The company has a market cap of $56.56 billion, a P/E ratio of -38.52, a P/E/G ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Friday, April 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, April 11th. Marvell Technology’s payout ratio is -23.53%.

Insider Activity at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the company’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 sale, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. The trade was a 6.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brad W. Buss purchased 3,000 shares of Marvell Technology stock in a transaction on Friday, March 7th. The stock was bought at an average price of $69.00 per share, for a total transaction of $207,000.00. Following the transaction, the director now directly owns 87,113 shares in the company, 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. Over the last ninety days, insiders sold 30,176 shares of company stock worth $2,111,528. Company insiders own 0.19% of the company’s stock.

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.