Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by FIL Ltd

FIL Ltd cut its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,237,939 shares of the semiconductor company’s stock after selling 105,658 shares during the quarter. FIL Ltd’s holdings in Marvell Technology were worth $357,630,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MRVL. Benjamin Edwards Inc. raised its holdings in Marvell Technology by 1,231.1% in the third quarter. Benjamin Edwards Inc. now owns 4,499 shares of the semiconductor company’s stock valued at $325,000 after buying an additional 4,161 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of Marvell Technology by 1.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,931 shares of the semiconductor company’s stock valued at $716,000 after acquiring an additional 139 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Marvell Technology by 44.3% during the 3rd quarter. Quantinno Capital Management LP now owns 52,048 shares of the semiconductor company’s stock valued at $3,754,000 after acquiring an additional 15,968 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Marvell Technology by 8.9% during the 3rd quarter. EP Wealth Advisors LLC now owns 8,399 shares of the semiconductor company’s stock worth $606,000 after purchasing an additional 688 shares during the period. Finally, Orion Portfolio Solutions LLC increased its holdings in Marvell Technology by 1.0% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 25,289 shares of the semiconductor company’s stock valued at $1,824,000 after purchasing an additional 249 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MRVL. The Goldman Sachs Group increased their target price on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. TD Cowen decreased their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Craig Hallum lifted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Piper Sandler decreased their price objective on shares of Marvell Technology from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Three 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.44.

Marvell Technology Stock Up 3.2 %

MRVL stock opened at $51.00 on Tuesday. The stock has a market cap of $44.17 billion, a PE ratio of -30.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The firm’s 50-day simple moving average is $86.44 and its 200 day simple moving average is $93.06. Marvell Technology, Inc. has a fifty-two week low of $47.09 and a fifty-two week 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.

Marvell Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s payout ratio is currently -23.53%.

Insiders Place Their Bets

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total transaction of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Panteha Dixon sold 1,430 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the transaction, the chief accounting officer now directly owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,185 shares of company stock worth $3,131,018. 0.33% of the stock is owned by company 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.