Orion Portfolio Solutions LLC Sells 457 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Orion Portfolio Solutions LLC trimmed its stake in Marvell Technology, Inc. (NASDAQ:MRVL) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,832 shares of the semiconductor company’s stock after selling 457 shares during the period. Orion Portfolio Solutions LLC’s holdings in Marvell Technology were worth $2,743,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its position in shares of Marvell Technology by 1,481.8% in the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC raised its holdings 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 during the period. Centricity Wealth Management LLC acquired a new position in Marvell Technology during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Marvell Technology during the fourth quarter valued at about $27,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Marvell Technology in the fourth quarter valued at about $33,000. 83.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the transaction, the chief financial officer now owns 111,211 shares in the company, valued at $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction 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 dated Thursday, January 2nd. The stock was sold at an average price of $113.00, for a total value of $282,500.00. Following the sale, the executive vice president now directly owns 24,706 shares of the company’s stock, valued at $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 have sold 37,685 shares of company stock valued at $4,026,768 over the last three months. 0.33% of the stock is owned by insiders.

Marvell Technology Stock Performance

Marvell Technology stock opened at $61.57 on Tuesday. Marvell Technology, Inc. has a 12-month low of $53.19 and a 12-month high of $127.48. The stock has a 50-day simple moving average of $92.78 and a 200 day simple moving average of $93.66. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $53.32 billion, a price-to-earnings ratio of -36.22, a P/E/G ratio of 1.61 and a beta of 1.42.

Marvell Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.39%. Marvell Technology’s payout ratio is -23.53%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MRVL shares. Melius initiated coverage on Marvell Technology in a research note on Monday, January 27th. They set a “buy” rating and a $188.00 target price for the company. William Blair upgraded shares of Marvell Technology to a “strong-buy” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group upped their target price on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Craig Hallum raised their price target on shares of Marvell Technology from $132.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, TD Cowen cut their price objective on shares of Marvell Technology from $125.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

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.