Shelton Capital Management Cuts Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Shelton Capital Management cut its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 103,186 shares of the semiconductor company’s stock after selling 1,417 shares during the quarter. Shelton Capital Management’s holdings in Marvell Technology were worth $11,397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in Marvell Technology by 30.1% during the 4th quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the period. Wellington Management Group LLP boosted its holdings in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock worth $1,374,252,000 after purchasing an additional 3,747,982 shares during the last quarter. Geode Capital Management LLC grew its position in Marvell Technology by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock worth $1,263,755,000 after purchasing an additional 80,005 shares during the period. Norges Bank bought a new stake in Marvell Technology in the 4th quarter worth approximately $1,138,354,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Marvell Technology by 28.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock valued at $838,617,000 after buying an additional 1,691,242 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insiders Place Their Bets

In other Marvell Technology news, 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 sale 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 firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the sale, the chief accounting officer now owns 31,100 shares of the company’s stock, valued at approximately $2,138,125. This trade represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,185 shares of company stock worth $3,131,018 in the last ninety days. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

MRVL has been the topic of several research reports. StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Thursday, March 6th. Summit Insights cut shares of Marvell Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup dropped their price target on shares of Marvell Technology from $136.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group upped their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.44.

Marvell Technology Price Performance

Marvell Technology stock opened at $51.00 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market cap of $44.17 billion, a price-to-earnings ratio of -30.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.78. The firm has a 50-day moving average of $86.44 and a two-hundred day moving average of $93.06. Marvell Technology, Inc. has a 1 year low of $47.09 and a 1 year high of $127.48.

Marvell Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date is Friday, April 11th. This represents a $0.24 annualized dividend and a yield of 0.47%. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

Marvell Technology 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.