Deltec Asset Management LLC Lowers Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Deltec Asset Management LLC cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 54.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,539 shares of the semiconductor company’s stock after selling 66,666 shares during the quarter. Marvell Technology comprises about 1.2% of Deltec Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Deltec Asset Management LLC’s holdings in Marvell Technology were worth $6,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Valley National Advisers Inc. lifted its holdings in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after purchasing an additional 96 shares during the last quarter. Waldron Private Wealth LLC increased its position in Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock valued at $327,000 after buying an additional 103 shares in the last quarter. Tsfg LLC boosted its holdings in Marvell Technology by 7.5% in the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 111 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Marvell Technology by 1.5% during the third quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares during the last quarter. Finally, Patton Albertson Miller Group LLC increased its holdings in shares of Marvell Technology by 1.6% during the fourth quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock valued at $828,000 after acquiring an additional 120 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on MRVL. Loop Capital boosted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald boosted their price objective on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. UBS Group raised their target price on Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus boosted their price target on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group raised 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 equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Performance

MRVL stock opened at $109.69 on Wednesday. Marvell Technology, Inc. has a 52 week low of $53.19 and a 52 week 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. The firm has a 50-day simple moving average of $112.48 and a 200-day simple moving average of $88.27.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Marvell Technology’s payout ratio is currently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now directly owns 111,211 shares of the company’s stock, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock valued at $4,361,430 over the last quarter. 0.33% of the stock is currently 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.