Fulton Breakefield Broenniman LLC Cuts Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Fulton Breakefield Broenniman LLC lowered its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 2.6% during the fourth quarter, Holdings Channel reports. The fund owned 7,784 shares of the semiconductor company’s stock after selling 208 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Marvell Technology were worth $860,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. True Wealth Design LLC grew its stake in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 326 shares in the last quarter. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% during the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Marvell Technology during the second quarter worth $32,000. Quarry LP acquired a new position in Marvell Technology in the second quarter valued at $32,000. Finally, Kieckhefer Group LLC acquired a new position in Marvell Technology in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $103.88 on Wednesday. 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, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $127.48. The firm has a fifty day moving average price of $110.63 and a two-hundred day moving average price of $86.85. The company has a market cap of $89.89 billion, a PE ratio of -61.11, a price-to-earnings-growth ratio of 4.12 and a beta of 1.41.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s payout ratio is presently -14.12%.

Insider Buying and Selling at Marvell Technology

In other news, EVP Mark Casper sold 7,755 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The sale was disclosed in a document filed 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 on Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $133,710.00. Following the completion of the sale, the chief financial officer now directly owns 114,211 shares in the company, valued at approximately $10,180,768.54. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,755 shares of company stock worth $4,361,430. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MRVL has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. KeyCorp upped their price objective on shares of Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of Marvell Technology from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Benchmark reiterated a “buy” rating and set a $135.00 target price (up previously from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. Finally, TD Cowen increased their target price on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

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.