Marvell Technology, Inc. (NASDAQ:MRVL) Position Lessened by NBW Capital LLC

NBW Capital LLC lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 5.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,437 shares of the semiconductor company’s stock after selling 6,682 shares during the period. Marvell Technology accounts for approximately 2.5% of NBW Capital LLC’s portfolio, making the stock its 8th largest holding. NBW Capital LLC’s holdings in Marvell Technology were worth $13,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB raised its position in Marvell Technology by 1.0% during the third quarter. Swedbank AB now owns 2,357,695 shares of the semiconductor company’s stock valued at $170,037,000 after purchasing an additional 23,680 shares in the last quarter. Stephens Inc. AR raised its position in Marvell Technology by 16.2% during the third quarter. Stephens Inc. AR now owns 8,407 shares of the semiconductor company’s stock valued at $606,000 after purchasing an additional 1,175 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Marvell Technology by 3.2% during the third quarter. Janney Montgomery Scott LLC now owns 123,031 shares of the semiconductor company’s stock valued at $8,873,000 after purchasing an additional 3,855 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Marvell Technology by 83.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 141,994 shares of the semiconductor company’s stock valued at $10,241,000 after purchasing an additional 64,465 shares in the last quarter. Finally, Silicon Valley Capital Partners raised its position in Marvell Technology by 254.6% during the third quarter. Silicon Valley Capital Partners now owns 32,978 shares of the semiconductor company’s stock valued at $2,378,000 after purchasing an additional 23,678 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MRVL. Bank of America raised their price target on Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Craig Hallum raised their price objective on Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Oppenheimer raised their price objective on Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, B. Riley raised their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $127.60.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $85.83 on Tuesday. Marvell Technology, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The firm has a market cap of $74.27 billion, a P/E ratio of -50.49, a PEG ratio of 1.61 and a beta of 1.40. The company has a 50 day moving average of $111.63 and a 200 day moving average of $93.59. 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 Announces Dividend

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

Insider Buying and Selling

In related news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $122.50, for a total value 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 $13,807,097.50. The trade was a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Casper sold 2,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at approximately $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,255 shares of company stock worth $4,330,980 in the last three months. 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.