Denver PWM LLC Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Denver PWM LLC reduced its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 813 shares of the semiconductor company’s stock after selling 152 shares during the quarter. Denver PWM LLC’s holdings in Marvell Technology were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Temasek Holdings Private Ltd boosted its position in Marvell Technology by 581.8% during the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after acquiring an additional 1,911,532 shares in the last quarter. Holocene Advisors LP bought a new stake in Marvell Technology during the 3rd quarter valued at $120,116,000. Van ECK Associates Corp boosted its position in Marvell Technology by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after acquiring an additional 1,570,050 shares in the last quarter. Perpetual Ltd boosted its position in Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after acquiring an additional 682,457 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares in the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock worth $4,330,980 in the last ninety days. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald increased their target price on Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Bank of America raised their price objective on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC raised their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, KeyCorp raised their price objective on Marvell Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Trading Down 4.5 %

Shares of Marvell Technology stock opened at $103.85 on Friday. The stock has a market cap of $89.86 billion, a P/E ratio of -61.09, a P/E/G ratio of 1.61 and a beta of 1.40. The stock’s 50 day simple moving average is $113.59 and its 200-day simple moving average is $92.25. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

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.