MassMutual Private Wealth & Trust FSB Sells 2,821 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

MassMutual Private Wealth & Trust FSB decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 61,848 shares of the semiconductor company’s stock after selling 2,821 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Marvell Technology were worth $6,831,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Diversify Advisory Services LLC grew its stake in shares of Marvell Technology by 16.8% in the fourth quarter. Diversify Advisory Services LLC now owns 3,743 shares of the semiconductor company’s stock worth $428,000 after purchasing an additional 538 shares during the last quarter. Ariose Capital Management Ltd purchased a new stake in Marvell Technology in the 4th quarter worth approximately $2,021,000. Oak Ridge Investments LLC bought a new stake in shares of Marvell Technology in the 4th quarter worth approximately $419,000. Aaron Wealth Advisors LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $322,000. Finally, Moss Adams Wealth Advisors LLC raised its holdings in shares of Marvell Technology by 83.8% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 6,775 shares of the semiconductor company’s stock valued at $748,000 after acquiring an additional 3,089 shares in the last quarter. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Price Performance

MRVL stock opened at $124.76 on Monday. The stock’s 50 day simple moving average is $106.70 and its 200 day simple moving average is $84.64. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $126.15.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.19%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Susquehanna lifted their price target on shares of Marvell Technology from $110.00 to $125.00 and gave the company a “positive” rating in a report on Wednesday, December 4th. UBS Group lifted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup increased their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. KeyCorp raised their price objective on shares of Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald upped their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $124.96.

Insider Buying and Selling

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,755 shares of company stock worth $3,615,030. 0.33% of the stock is owned by corporate 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.