Vanguard Group Inc. Trims Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Vanguard Group Inc. reduced its position in Marvell Technology, Inc. (NASDAQ:MRVL) by 16.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 62,557,784 shares of the semiconductor company’s stock after selling 12,125,423 shares during the period. Vanguard Group Inc. owned approximately 0.07% of Marvell Technology worth $6,909,507,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares in the last quarter. ORG Partners LLC grew its stake in Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in Marvell Technology in the 4th quarter worth about $27,000. Finally, Kieckhefer Group LLC bought a new position in Marvell Technology in the 4th quarter worth about $33,000. 83.51% of the stock is currently owned by institutional investors.

Marvell Technology Stock Down 0.1 %

Shares of NASDAQ MRVL opened at $70.39 on Monday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The stock has a market cap of $60.96 billion, a PE ratio of -41.41, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $99.06 and a 200 day moving average of $93.85.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.34%. Marvell Technology’s dividend payout ratio is presently -23.53%.

Insider Activity at Marvell Technology

In other news, EVP Mark Casper sold 2,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total value of $282,500.00. Following the completion of the sale, the executive vice president now owns 24,706 shares of the company’s stock, valued at $2,791,778. This represents a 9.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Panteha Dixon sold 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the completion of the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. This represents a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,685 shares of company stock valued at $4,026,768. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Raymond James set a $110.00 price objective on shares of Marvell Technology in a research note on Thursday, March 6th. Needham & Company LLC cut their price target on shares of Marvell Technology from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. William Blair raised shares of Marvell Technology to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Three equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.44.

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.