Field & Main Bank Sells 205 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Field & Main Bank lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,045 shares of the semiconductor company’s stock after selling 205 shares during the quarter. Marvell Technology comprises 1.1% of Field & Main Bank’s portfolio, making the stock its 24th largest position. Field & Main Bank’s holdings in Marvell Technology were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tsfg LLC increased its holdings in shares of Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 111 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock valued at $566,000 after buying an additional 116 shares during the period. Patton Albertson Miller Group LLC boosted its stake in shares of Marvell Technology by 1.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 7,500 shares of the semiconductor company’s stock worth $828,000 after buying an additional 120 shares during the last quarter. Crumly & Associates Inc. increased its position in Marvell Technology by 1.5% during the third quarter. Crumly & Associates Inc. now owns 8,223 shares of the semiconductor company’s stock valued at $593,000 after acquiring an additional 121 shares during the last quarter. Finally, United Capital Management of KS Inc. lifted its holdings in Marvell Technology by 0.4% in the third quarter. United Capital Management of KS Inc. now owns 34,251 shares of the semiconductor company’s stock valued at $2,470,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

MRVL has been the subject of a number of recent research reports. Morgan Stanley cut their price target on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research note on Tuesday. Loop Capital boosted their target price on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price target on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Bank of America boosted their price objective on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald raised their target price on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Marvell Technology Trading Down 0.0 %

Shares of NASDAQ:MRVL opened at $103.86 on Wednesday. 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 business’s fifty day simple moving average is $110.63 and its 200-day simple moving average is $86.85. The company has a market capitalization of $89.87 billion, a PE ratio of -61.13, a P/E/G ratio of 4.12 and a beta of 1.41. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Marvell Technology’s dividend payout ratio is currently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the sale, the chief financial officer now directly owns 114,211 shares of the company’s stock, valued at approximately $10,180,768.54. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael G. Strachan sold 5,000 shares of Marvell Technology stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now directly owns 30,959 shares in the company, valued at $3,797,121.35. This represents a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is owned by company insiders.

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.