Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Trimmed by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 20.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,145 shares of the semiconductor company’s stock after selling 8,810 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Marvell Technology were worth $3,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Temasek Holdings Private Ltd raised its holdings in shares of Marvell Technology by 581.8% in the 3rd quarter. Temasek Holdings Private Ltd now owns 2,240,085 shares of the semiconductor company’s stock worth $161,555,000 after purchasing an additional 1,911,532 shares in the last quarter. Holocene Advisors LP acquired a new position in Marvell Technology in the third quarter worth approximately $120,116,000. Van ECK Associates Corp increased its holdings in shares of Marvell Technology by 26.6% in the third quarter. Van ECK Associates Corp now owns 7,471,823 shares of the semiconductor company’s stock valued at $538,868,000 after buying an additional 1,570,050 shares in the last quarter. Perpetual Ltd lifted its position in shares of Marvell Technology by 3,405.3% during the 4th quarter. Perpetual Ltd now owns 702,498 shares of the semiconductor company’s stock valued at $77,591,000 after acquiring an additional 682,457 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Marvell Technology by 14.0% during the 4th quarter. Nordea Investment Management AB now owns 4,652,983 shares of the semiconductor company’s stock valued at $518,435,000 after acquiring an additional 571,005 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Marvell Technology

In other news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $124.40, for a total transaction of $746,400.00. Following the transaction, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. This represents a 6.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $122.50, for a total value 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 trade represents 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 worth $4,330,980 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

Shares of MRVL opened at $93.00 on Wednesday. The firm has a market cap of $80.47 billion, a price-to-earnings ratio of -54.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The company’s fifty day moving average is $112.66 and its 200-day moving average is $92.99. The company has a quick ratio of 1.11, a current ratio of 1.60 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.

Marvell Technology Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. TD Cowen boosted their target price on Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald boosted 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. StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Loop Capital boosted their price target on shares of Marvell Technology from $95.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and issued a $120.00 price target (up previously from $100.00) on shares of Marvell Technology in a research report 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.60.

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.