Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by abrdn plc

abrdn plc decreased its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 23.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,176,259 shares of the semiconductor company’s stock after selling 353,866 shares during the quarter. abrdn plc’s holdings in Marvell Technology were worth $130,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MRVL. Zweig DiMenna Associates LLC boosted its position in shares of Marvell Technology by 6.3% in the 4th 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 period. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth $637,000. RFG Advisory LLC raised its position in shares of Marvell Technology by 6.2% in 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 period. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology during the third quarter worth about $16,435,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after purchasing an additional 66,654 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Up 0.6 %

Marvell Technology stock opened at $113.56 on Tuesday. Marvell Technology, Inc. has a fifty-two week low of $53.19 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. The company has a 50 day moving average price of $112.15 and a 200-day moving average price of $87.97.

Marvell Technology Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays boosted their price objective on Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Oppenheimer upped their target price on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. 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. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Wells Fargo & Company upped their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Insider Buying and Selling at Marvell Technology

In related news, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now directly owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the transaction, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,755 shares of company stock valued at $4,361,430. 0.33% of the stock is owned by 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.