Rathbones Group PLC Cuts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Rathbones Group PLC trimmed its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 803,947 shares of the semiconductor company’s stock after selling 5,778 shares during the period. Rathbones Group PLC owned approximately 0.09% of Marvell Technology worth $88,796,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Intrepid Financial Planning Group LLC raised its position in shares of Marvell Technology by 0.3% in the fourth quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company’s stock worth $2,860,000 after acquiring an additional 90 shares during the period. PDS Planning Inc increased its stake in shares of Marvell Technology by 3.3% during the fourth quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company’s stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Lodestone Wealth Management LLC raised its position in shares of Marvell Technology by 2.0% during the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 93 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Marvell Technology by 0.4% in the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in Marvell Technology by 2.7% in the 4th quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company’s stock worth $414,000 after buying an additional 97 shares during the last quarter. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on MRVL shares. Stifel Nicolaus reduced their target price on Marvell Technology from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Bank of America lowered their target price on shares of Marvell Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Melius initiated coverage on shares of Marvell Technology in a research report on Monday, January 27th. They set a “buy” rating and a $188.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Marvell Technology from $113.00 to $90.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Finally, Barclays lowered their target price on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $120.44.

Insider Activity

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the sale, the chief financial officer now owns 113,592 shares in the company, valued at $7,818,537.36. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,185 shares of company stock worth $3,131,018. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Marvell Technology stock opened at $49.43 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $87.42 and a 200-day simple moving average of $93.23. The stock has a market cap of $42.81 billion, a P/E ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. Marvell Technology, Inc. has a 12-month low of $46.50 and a 12-month high of $127.48.

Marvell Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is -23.53%.

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.