Certuity LLC Sells 736 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Certuity LLC decreased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,495 shares of the semiconductor company’s stock after selling 736 shares during the quarter. Certuity LLC’s holdings in Marvell Technology were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Partners LLC increased its holdings in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. Financial Life Planners purchased a new position in shares of Marvell Technology during the fourth quarter valued at approximately $33,000. GHP Investment Advisors Inc. boosted its position in shares of Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 112 shares during the last quarter. Finally, True Wealth Design LLC boosted its position 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 buying an additional 326 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MRVL shares. JPMorgan Chase & Co. lifted their target price on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley cut their target price on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Cantor Fitzgerald lifted 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. Piper Sandler reissued an “overweight” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Loop Capital boosted their price objective on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Marvell Technology presently has an average rating of “Moderate Buy” and an average target price of $127.60.

Insiders Place Their Bets

In other news, EVP Mark Casper sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at approximately $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total value of $534,840.00. Following the completion of the transaction, the executive vice president now owns 103,244 shares of the company’s stock, valued at $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. 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 ninety days. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

NASDAQ:MRVL opened at $109.12 on Wednesday. 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, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The business’s fifty day moving average is $114.53 and its 200 day moving average is $89.94.

Marvell Technology Dividend Announcement

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

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.