RWA Wealth Partners LLC reduced its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL – Free Report) by 26.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 8,954 shares of the semiconductor company’s stock after selling 3,193 shares during the period. RWA Wealth Partners LLC’s holdings in Marvell Technology were worth $551,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Coldstream Capital Management Inc. boosted 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 in the last quarter. Virtue Capital Management LLC increased its stake in shares of Marvell Technology by 2.1% during the 4th quarter. Virtue Capital Management LLC now owns 7,752 shares of the semiconductor company’s stock worth $856,000 after purchasing an additional 163 shares in the last quarter. Kolinsky Wealth Management LLC lifted its holdings in Marvell Technology by 3.3% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,628 shares of the semiconductor company’s stock valued at $622,000 after purchasing an additional 181 shares in the last quarter. Denali Advisors LLC lifted its holdings in Marvell Technology by 2.3% in the 1st quarter. Denali Advisors LLC now owns 8,713 shares of the semiconductor company’s stock valued at $536,000 after purchasing an additional 200 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Marvell Technology by 5.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 4,313 shares of the semiconductor company’s stock valued at $266,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.
Marvell Technology Stock Performance
Shares of MRVL stock opened at $71.22 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 1.30. Marvell Technology, Inc. has a one year low of $47.08 and a one year high of $127.48. The company’s 50-day simple moving average is $74.58 and its 200-day simple moving average is $72.73. The stock has a market capitalization of $61.52 billion, a price-to-earnings ratio of -124.95, a PEG ratio of 0.78 and a beta of 1.83.
Marvell Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. Marvell Technology’s payout ratio is presently -42.11%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MRVL. Loop Capital lowered their price objective on Marvell Technology from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Susquehanna cut their price objective on Marvell Technology from $110.00 to $90.00 and set a “positive” rating on the stock in a research report on Tuesday, May 27th. China Renaissance assumed coverage on shares of Marvell Technology in a research note on Thursday, June 5th. They issued a “buy” rating and a $110.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Marvell Technology from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Marvell Technology in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.70.
Check Out Our Latest Analysis on MRVL
Insider Buying and Selling at Marvell Technology
In related news, EVP Mark Casper sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the transaction, the executive vice president owned 17,163 shares in the company, valued at $1,241,743.05. The trade was a 14.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Panteha Dixon sold 1,283 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $68.50, for a total value of $87,885.50. Following the transaction, the chief accounting officer owned 29,572 shares of the company’s stock, valued at approximately $2,025,682. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,783 shares of company stock worth $407,716 over the last 90 days. Insiders own 0.19% of the company’s stock.
Marvell Technology Company 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.
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