Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV lessened its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 9.8% in the fourth quarter, Holdings Channel reports. The fund owned 7,208 shares of the semiconductor company’s stock after selling 784 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Marvell Technology were worth $796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRVL. Exchange Traded Concepts LLC boosted its holdings in Marvell Technology by 125.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 336 shares during the period. Creative Planning boosted its holdings in Marvell Technology by 37.5% in the 3rd quarter. Creative Planning now owns 103,740 shares of the semiconductor company’s stock worth $7,482,000 after acquiring an additional 28,286 shares during the period. NBC Securities Inc. boosted its holdings in Marvell Technology by 20.5% in the 3rd quarter. NBC Securities Inc. now owns 2,466 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 419 shares during the period. Swedbank AB boosted its holdings in Marvell Technology by 1.0% in the 3rd quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock worth $170,037,000 after acquiring an additional 23,680 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in Marvell Technology by 11.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,714 shares of the semiconductor company’s stock worth $989,000 after acquiring an additional 1,423 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

MRVL has been the subject of several research analyst reports. Oppenheimer increased their target price on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Citigroup increased their target price on Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Bank of America increased their target price on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $135.00 target price (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus increased their target price on Marvell Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $106.51 on Monday. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year 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 business’s fifty day moving average price is $113.94 and its two-hundred day moving average price is $90.79. The firm has a market capitalization of $92.16 billion, a PE ratio of -62.65, a P/E/G ratio of 1.77 and a beta of 1.40.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Friday, January 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insiders Place Their Bets

In other news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the transaction, the chief financial officer now directly owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares in the company, valued at $11,912,390. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,255 shares of company stock valued at $3,692,880 over the last three months. Company insiders own 0.33% of the company’s stock.

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.