abrdn plc Reduces Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

abrdn plc cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 23.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176,259 shares of the semiconductor company’s stock after selling 353,866 shares during the period. abrdn plc owned approximately 0.14% of Marvell Technology worth $130,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in MRVL. True Wealth Design LLC raised its stake in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC raised its stake in shares of Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Quarry LP acquired a new stake in shares of Marvell Technology in the second quarter valued at $32,000. Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at $33,000. Finally, Financial Life Planners acquired a new stake in Marvell Technology in the fourth quarter valued at $33,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Marvell Technology Stock Up 0.6 %

Shares of Marvell Technology stock opened at $113.56 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm’s 50-day moving average price is $112.15 and its two-hundred day moving average price is $87.97.

Marvell Technology Announces Dividend

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

Analyst Upgrades and Downgrades

MRVL has been the topic of a number of analyst reports. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. The Goldman Sachs Group raised their price objective on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Cantor Fitzgerald raised their price objective on Marvell Technology from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Finally, Morgan Stanley dropped their price objective on Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and an average target price of $127.60.

Insiders Place Their Bets

In related news, EVP Chris Koopmans sold 6,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total value of $746,400.00. Following the transaction, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the completion of the sale, the chief financial officer now owns 114,211 shares in the company, valued at $10,180,768.54. 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 sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by 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.