GAM Holding AG Sells 30,817 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

GAM Holding AG decreased its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 81.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,983 shares of the semiconductor company’s stock after selling 30,817 shares during the quarter. GAM Holding AG’s holdings in Marvell Technology were worth $771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the fourth quarter valued at $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the fourth quarter valued at $33,000. Finally, Whittier Trust Co. increased its holdings in shares of Marvell Technology by 74.5% during the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 210 shares in the last quarter. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $107.29 on Wednesday. The stock has a market cap of $92.84 billion, a PE ratio of -63.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The firm has a fifty day moving average price of $113.93 and a 200-day moving average price of $91.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Analyst Ratings Changes

MRVL has been the subject of several analyst reports. Stifel Nicolaus raised their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday, January 6th. William Blair raised Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Evercore ISI increased their price objective on Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group increased their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Insider Activity at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares in the company, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Casper sold 7,755 shares of Marvell Technology stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total transaction of $954,485.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,255 shares of company stock worth $3,692,880. 0.33% of the stock is owned by corporate 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.