SWS Partners Sells 4,490 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

SWS Partners cut its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,592 shares of the semiconductor company’s stock after selling 4,490 shares during the period. Marvell Technology accounts for 1.8% of SWS Partners’ investment portfolio, making the stock its 11th largest holding. SWS Partners’ holdings in Marvell Technology were worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MRVL. State Street Corp lifted its stake in shares of Marvell Technology by 0.3% in the 3rd quarter. State Street Corp now owns 19,943,655 shares of the semiconductor company’s stock valued at $1,438,336,000 after purchasing an additional 68,893 shares during the period. Geode Capital Management LLC lifted its stake in Marvell Technology by 2.0% in the third quarter. Geode Capital Management LLC now owns 11,388,139 shares of the semiconductor company’s stock valued at $818,916,000 after buying an additional 219,692 shares during the period. Wellington Management Group LLP lifted its stake in Marvell Technology by 4.3% in the third quarter. Wellington Management Group LLP now owns 8,694,320 shares of the semiconductor company’s stock valued at $627,034,000 after buying an additional 359,005 shares during the period. Nordea Investment Management AB boosted its holdings 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 worth $518,435,000 after buying an additional 571,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Marvell Technology by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,427,745 shares of the semiconductor company’s stock worth $378,594,000 after buying an additional 165,858 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRVL. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. TD Cowen increased their price objective 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. B. Riley boosted their target price on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com upgraded Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Piper Sandler restated an “overweight” rating and set a $120.00 price objective (up previously from $100.00) on shares of Marvell Technology in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $127.60.

Insiders Place Their Bets

In other news, COO Chris Koopmans sold 6,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $106.35, for a total transaction of $638,100.00. Following the completion of the transaction, the chief operating officer now owns 87,931 shares in the company, valued at approximately $9,351,461.85. This represents a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The disclosure for this sale can be found here. Insiders sold 36,255 shares of company stock valued at $4,330,980 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Marvell Technology Stock Down 6.5 %

Marvell Technology stock opened at $85.83 on Tuesday. The firm has a 50 day moving average price of $111.63 and a 200-day moving average price 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, Inc. has a twelve month low of $53.19 and a twelve month high of $127.48. The company has a market capitalization of $74.27 billion, a P/E ratio of -50.49, a P/E/G ratio of 1.61 and a beta of 1.40.

Marvell Technology Announces Dividend

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

Marvell Technology Company 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.