Advisor OS LLC Cuts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Advisor OS LLC lowered its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 63.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,680 shares of the semiconductor company’s stock after selling 33,111 shares during the period. Advisor OS LLC’s holdings in Marvell Technology were worth $2,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zweig DiMenna Associates LLC boosted its position in Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the period. Berbice Capital Management LLC purchased a new stake in shares of Marvell Technology during the fourth quarter worth about $637,000. RFG Advisory LLC grew its stake in shares of Marvell Technology by 6.2% in the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. purchased a new position in Marvell Technology during the 3rd quarter valued at about $16,435,000. Finally, Charles Schwab Investment Management Inc. raised its position in Marvell Technology by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

MRVL opened at $93.00 on Wednesday. Marvell Technology, Inc. has a 1 year low of $53.19 and a 1 year high of $127.48. The stock has a 50-day moving average price of $112.66 and a 200-day moving average price of $92.99. The firm has a market cap of $80.47 billion, a PE ratio of -54.71, a P/E/G ratio of 1.61 and a beta of 1.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were paid a $0.06 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Marvell Technology’s dividend payout ratio is presently -14.12%.

Wall Street Analyst Weigh In

MRVL has been the topic of a number of recent analyst reports. Melius began coverage on Marvell Technology in a research report on Monday, January 27th. They issued a “buy” rating and a $188.00 price objective on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Marvell Technology in a research note on Friday, February 14th. Rosenblatt Securities boosted their price objective on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. 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 research report on Wednesday, December 4th. Finally, Oppenheimer lifted their target price on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Transactions at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the transaction, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. The trade was a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Chris Koopmans sold 6,000 shares of the 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 sale, the chief operating officer now directly owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

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.