Robertson Stephens Wealth Management LLC Sells 3,198 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Robertson Stephens Wealth Management LLC trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 32.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,516 shares of the semiconductor company’s stock after selling 3,198 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Marvell Technology were worth $720,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of MRVL. Zweig DiMenna Associates LLC boosted its position in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new position in Marvell Technology during the 4th quarter worth approximately $637,000. RFG Advisory LLC boosted its position in Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after acquiring an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in Marvell Technology during the 3rd quarter worth approximately $16,435,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares during the last quarter. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Down 7.2 %

MRVL stock opened at $110.62 on Friday. 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 capitalization of $95.72 billion, a price-to-earnings ratio of -65.07, a PEG ratio of 3.71 and a beta of 1.40. The business’s fifty day moving average price is $113.59 and its two-hundred day moving average price is $88.68. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48.

Marvell Technology Announces Dividend

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

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction 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 owns 112,711 shares in the company, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of a number of recent research reports. Bank of America upped their price target on Marvell Technology from $108.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Rosenblatt Securities increased their price objective on Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup increased their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Loop Capital increased their price objective on Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.60.

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.