Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by River Global Investors LLP

River Global Investors LLP reduced its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 37.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,636 shares of the semiconductor company’s stock after selling 14,664 shares during the quarter. River Global Investors LLP’s holdings in Marvell Technology were worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in Marvell Technology by 7.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 77,167 shares of the semiconductor company’s stock worth $8,523,000 after acquiring an additional 5,384 shares during the period. Banco Santander S.A. purchased a new position in shares of Marvell Technology in the fourth quarter worth about $400,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Marvell Technology by 45.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 55,090 shares of the semiconductor company’s stock worth $6,715,000 after purchasing an additional 17,214 shares during the period. Oak Hill Wealth Advisors LLC acquired a new stake in shares of Marvell Technology during the fourth quarter worth about $236,000. Finally, Value Star Asset Management Hong Kong Ltd purchased a new stake in Marvell Technology in the fourth quarter valued at approximately $1,104,000. 83.51% of the stock is owned by hedge funds and other institutional investors.

Marvell Technology Trading Down 2.0 %

MRVL stock opened at $70.84 on Friday. The business’s 50-day moving average is $109.13 and its 200 day moving average is $93.67. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The stock has a market cap of $61.30 billion, a price-to-earnings ratio of -41.67, a PEG ratio of 1.61 and a beta of 1.40. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

MRVL has been the subject of a number of recent research reports. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of Marvell Technology in a report on Thursday. Loop Capital raised shares of Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Thursday. Barclays reduced their price objective on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Marvell Technology presently has a consensus rating of “Moderate Buy” and an average target price of $121.68.

Insider Buying and Selling at Marvell Technology

In related news, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the sale, the chief financial officer now owns 112,711 shares of the company’s stock, valued at approximately $13,807,097.50. This represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total transaction of $282,500.00. Following the completion of the transaction, the executive vice president now directly owns 24,706 shares in the company, valued at $2,791,778. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,255 shares of company stock worth $4,330,980. Corporate insiders own 0.33% of the company’s stock.

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.