Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by WR Wealth Planners LLC

WR Wealth Planners LLC lessened its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 35.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 500 shares of the semiconductor company’s stock after selling 275 shares during the quarter. WR Wealth Planners LLC’s holdings in Marvell Technology were worth $55,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zweig DiMenna Associates LLC boosted its stake in shares of Marvell Technology by 6.3% during the 4th quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock valued at $23,583,000 after buying an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Marvell Technology in the fourth quarter worth $637,000. RFG Advisory LLC increased its holdings in shares of Marvell Technology by 6.2% during the fourth quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock valued at $4,708,000 after purchasing an additional 2,507 shares during the period. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology during the third quarter valued at $16,435,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Marvell Technology by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Marvell Technology Stock Performance

MRVL stock opened at $91.82 on Friday. The business has a 50 day moving average of $111.63 and a 200-day moving average of $93.39. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The firm has a market cap of $79.45 billion, a PE ratio of -54.01, a P/E/G ratio of 1.61 and a beta of 1.40. 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. 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 0.26%. The ex-dividend date of this dividend was Friday, January 10th. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the sale, the chief financial officer now owns 112,711 shares in the company, valued at $13,807,097.50. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $638,100.00. Following the completion of the sale, the chief operating officer now owns 87,931 shares in the company, valued at $9,351,461.85. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,255 shares of company stock valued at $4,330,980. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. KeyCorp raised their target price on Marvell Technology from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $135.00 price target (up from $115.00) on shares of Marvell Technology in a research note on Wednesday, December 4th. UBS Group raised their price objective on Marvell Technology from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Loop Capital lifted their price target on Marvell Technology from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, StockNews.com raised Marvell Technology from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Three investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.