Marvell Technology, Inc. (NASDAQ:MRVL) Stock Position Lessened by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 95.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,362 shares of the semiconductor company’s stock after selling 32,066 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Marvell Technology were worth $150,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares during the period. ORG Partners LLC grew its holdings in Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC acquired a new stake in Marvell Technology in the 4th quarter valued at about $33,000. Financial Life Planners bought a new position in shares of Marvell Technology during the 4th quarter valued at about $33,000. Finally, Whittier Trust Co. grew its stake in shares of Marvell Technology by 74.5% in the 3rd quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $112.80 on Tuesday. The stock has a 50-day simple moving average of $114.26 and a 200-day simple moving average of $89.63. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Activity

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares in the company, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on MRVL shares. Evercore ISI increased their target price on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Citigroup increased their price objective on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Melius began coverage on Marvell Technology in a report on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target 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 analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $127.60.

About Marvell Technology

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.