Strategic Advisors LLC Sells 500 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Strategic Advisors LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,245 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Marvell Technology makes up approximately 1.0% of Strategic Advisors LLC’s investment portfolio, making the stock its 26th largest position. Strategic Advisors LLC’s holdings in Marvell Technology were worth $5,550,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MRVL. Temasek Holdings Private Ltd raised its holdings in Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock valued at $161,555,000 after buying an additional 1,911,532 shares during the last quarter. Holocene Advisors LP bought a new position in Marvell Technology in the 3rd quarter valued at approximately $120,116,000. Van ECK Associates Corp raised its holdings in Marvell Technology by 26.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares during the last quarter. Perpetual Ltd raised its holdings in Marvell Technology by 3,405.3% in the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after buying an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Marvell Technology by 14.0% in the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after buying an additional 571,005 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $183,750.00. Following the sale, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were 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 ninety days, insiders have sold 30,255 shares of company stock valued at $3,692,880. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MRVL has been the subject of a number of research reports. TD Cowen raised their price objective on shares of Marvell Technology from $90.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. UBS Group increased their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Cantor Fitzgerald increased their target price on shares of Marvell Technology from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Stock Up 2.9 %

Shares of NASDAQ:MRVL opened at $106.51 on Monday. The company’s 50-day moving average is $113.94 and its 200 day moving average is $90.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. 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 business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is currently -14.12%.

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.