HCR Wealth Advisors Sells 1,000 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

HCR Wealth Advisors decreased its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,377 shares of the semiconductor company’s stock after selling 1,000 shares during the period. HCR Wealth Advisors’ holdings in Marvell Technology were worth $1,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MRVL. Davidson Kempner Capital Management LP grew its holdings in Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock valued at $17,482,000 after purchasing an additional 52,365 shares during the last quarter. Braun Stacey Associates Inc. purchased a new stake in shares of Marvell Technology in the third quarter worth approximately $16,435,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock worth $235,247,000 after acquiring an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Marvell Technology by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after acquiring an additional 535,203 shares during the period. Finally, Franchise Capital Ltd bought a new position in Marvell Technology in the 4th quarter valued at $1,476,000. Institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, EVP Chris Koopmans sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $80.77, for a total value of $484,620.00. Following the transaction, the executive vice president now directly owns 109,244 shares of the company’s stock, valued at approximately $8,823,637.88. This trade represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael G. Strachan sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $122.65, for a total value of $613,250.00. Following the transaction, the director now directly owns 30,959 shares of the company’s stock, valued at $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,500 shares of company stock valued at $2,967,670. 0.33% of the stock is owned by company insiders.

Marvell Technology Trading Up 0.7 %

NASDAQ MRVL opened at $116.00 on Thursday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. 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 stock has a 50-day simple moving average of $105.61 and a two-hundred day simple moving average of $83.85.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Analyst Ratings Changes

Several brokerages have weighed in on MRVL. TD Cowen upped their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus upped their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup raised their target price on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Craig Hallum boosted their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price objective on shares of Marvell Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $121.68.

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.