LGT Fund Management Co Ltd. Decreases Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

LGT Fund Management Co Ltd. decreased its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 70.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,763 shares of the semiconductor company’s stock after selling 20,406 shares during the period. LGT Fund Management Co Ltd.’s holdings in Marvell Technology were worth $968,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. True Wealth Design LLC increased 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 worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC increased 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 worth $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth about $26,000. Kieckhefer Group LLC purchased a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. Finally, Financial Life Planners purchased a new position in shares of Marvell Technology in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Trading Down 6.5 %

Shares of MRVL opened at $85.83 on Tuesday. The firm has a market cap of $74.27 billion, a price-to-earnings ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. 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 fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a 50 day moving average price of $111.63 and a 200-day moving average price of $93.59.

Marvell Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.28%. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling

In related news, COO Chris Koopmans sold 6,000 shares of Marvell Technology stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $106.35, for a total value of $638,100.00. Following the transaction, the chief operating officer now directly owns 87,931 shares of the company’s stock, valued at $9,351,461.85. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now directly owns 112,711 shares in the company, valued at approximately $13,807,097.50. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,255 shares of company stock valued at $4,330,980 over the last three months. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. StockNews.com raised shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. The Goldman Sachs Group boosted their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Barclays reaffirmed an “overweight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Marvell Technology currently has an average rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology 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.