Marvell Technology, Inc. (NASDAQ:MRVL) Position Reduced by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV cut its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 518,556 shares of the semiconductor company’s stock after selling 4,796 shares during the quarter. Nissay Asset Management Corp Japan ADV owned 0.06% of Marvell Technology worth $58,918,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Intrepid Financial Planning Group LLC lifted its holdings in shares of Marvell Technology by 0.3% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock valued at $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc lifted its holdings in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock valued at $319,000 after acquiring an additional 92 shares during the period. Lodestone Wealth Management LLC raised its holdings in shares of Marvell Technology by 2.0% in the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 93 shares during the last quarter. Valley National Advisers Inc. lifted its position in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Marvell Technology by 2.7% during the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MRVL shares. Barclays reduced their price target on shares of Marvell Technology from $130.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Citigroup reduced their price target on shares of Marvell Technology from $122.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a report on Thursday, March 6th. Bank of America dropped their price objective on Marvell Technology from $120.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, KeyCorp dropped their price objective on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.27.

Marvell Technology Trading Up 1.5%

NASDAQ:MRVL opened at $65.48 on Wednesday. Marvell Technology, Inc. has a twelve month low of $47.09 and a twelve month high of $127.48. 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 business has a 50 day moving average price of $60.54 and a two-hundred day moving average price of $89.11. The company has a market cap of $56.56 billion, a P/E ratio of -38.52, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Friday, April 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Insiders Place Their Bets

In other news, CAO Panteha Dixon sold 1,286 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $65.00, for a total value of $83,590.00. Following the completion of the sale, the chief accounting officer now owns 32,094 shares of the company’s stock, valued at approximately $2,086,110. This represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Casper sold 12,460 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $685,300.00. The disclosure for this sale can be found here. Insiders sold a total of 30,176 shares of company stock valued at $2,111,528 in the last quarter. 0.19% of the stock is currently owned by insiders.

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.