Sound View Wealth Advisors Group LLC Trims Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Sound View Wealth Advisors Group LLC lowered its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,113 shares of the semiconductor company’s stock after selling 2,231 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Marvell Technology were worth $1,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zweig DiMenna Associates LLC boosted its holdings in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after purchasing an additional 12,700 shares during the last quarter. Berbice Capital Management LLC bought a new position in Marvell Technology during the 4th quarter worth approximately $637,000. RFG Advisory LLC lifted its holdings in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after buying an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in Marvell Technology during the 3rd quarter worth approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after buying an additional 66,654 shares during the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analysts Forecast Growth

MRVL has been the topic of a number of research analyst reports. William Blair raised Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Stifel Nicolaus reduced their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday. TD Cowen reduced their target price on Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Melius began coverage on Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price on the stock. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $121.68.

Marvell Technology Stock Performance

Shares of NASDAQ MRVL opened at $70.84 on Monday. The stock has a fifty day moving average price of $108.27 and a two-hundred day moving average price of $94.00. 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 firm has a market cap of $61.30 billion, a P/E ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders 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 yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s payout ratio is currently -23.53%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brad W. Buss acquired 3,000 shares of Marvell Technology stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $69.00 per share, with a total value of $207,000.00. Following the completion of the purchase, the director now owns 87,113 shares in the company, valued at approximately $6,010,797. This represents a 3.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 36,255 shares of company stock valued at $4,330,980. 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.