Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 27.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,490 shares of the semiconductor company’s stock after selling 11,110 shares during the quarter. Thompson Investment Management Inc.’s holdings in Marvell Technology were worth $3,257,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Marvell Technology by 15.9% during the fourth quarter. Empowered Funds LLC now owns 47,636 shares of the semiconductor company’s stock worth $5,261,000 after buying an additional 6,536 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Marvell Technology by 8.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 51,656 shares of the semiconductor company’s stock worth $5,705,000 after buying an additional 4,069 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Marvell Technology by 5.6% during the fourth quarter. Kingsview Wealth Management LLC now owns 7,584 shares of the semiconductor company’s stock worth $838,000 after buying an additional 403 shares in the last quarter. Appleton Partners Inc. MA bought a new stake in Marvell Technology during the fourth quarter worth approximately $15,076,000. Finally, Generate Investment Management Ltd bought a new stake in Marvell Technology during the fourth quarter worth approximately $17,587,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of research reports. TD Cowen raised their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Evercore ISI raised their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. B. Riley raised their price objective on shares of Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Finally, UBS Group raised their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $127.60.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,755 shares of company stock worth $4,361,430 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Marvell Technology Stock Performance

Marvell Technology stock opened at $110.62 on Friday. The firm’s fifty day simple moving average is $113.95 and its 200-day simple moving average is $88.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 annualized dividend and a yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is presently -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.