Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by S Squared Technology LLC

S Squared Technology LLC reduced its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 30.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,357 shares of the semiconductor company’s stock after selling 75,000 shares during the quarter. Marvell Technology comprises 7.8% of S Squared Technology LLC’s holdings, making the stock its largest holding. S Squared Technology LLC’s holdings in Marvell Technology were worth $18,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MRVL. Norges Bank acquired a new position in shares of Marvell Technology in the 4th quarter worth approximately $1,138,354,000. GQG Partners LLC bought a new position in Marvell Technology during the fourth quarter worth $802,410,000. Wellington Management Group LLP lifted its holdings in Marvell Technology by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after buying an additional 3,747,982 shares during the period. Invesco Ltd. boosted its position in Marvell Technology by 30.1% during the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Marvell Technology during the 4th quarter worth about $366,896,000. 83.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MRVL has been the topic of several research analyst reports. Loop Capital upgraded Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Thursday, March 6th. KeyCorp cut their price target on Marvell Technology from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $140.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. TD Cowen cut their target price on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Summit Insights downgraded shares of Marvell Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Three research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $117.70.

Insider Transactions at Marvell Technology

In other Marvell Technology news, COO Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $68.83, for a total transaction of $412,980.00. Following the sale, the chief operating officer now directly owns 81,931 shares of the company’s stock, valued at $5,639,310.73. This represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $68.83, for a total transaction of $103,245.00. Following the transaction, the chief financial officer now owns 113,592 shares of the company’s stock, valued at $7,818,537.36. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,685 shares of company stock worth $2,953,523 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Marvell Technology stock opened at $51.93 on Thursday. The stock has a market cap of $44.97 billion, a P/E ratio of -30.55, a P/E/G ratio of 1.61 and a beta of 1.78. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average price is $76.09 and its two-hundred day moving average price is $91.51. Marvell Technology, Inc. has a 52 week low of $47.09 and a 52 week high of $127.48.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Friday, April 11th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. Marvell Technology’s dividend payout ratio (DPR) is presently -23.53%.

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.