Thompson Investment Management Inc. Lowers Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Thompson Investment Management Inc. lessened its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 27.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,490 shares of the semiconductor company’s stock after selling 11,110 shares during the quarter. Thompson Investment Management Inc.’s holdings in Marvell Technology were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MRVL. Valley National Advisers Inc. boosted its stake in shares of Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock worth $2,775,000 after acquiring an additional 96 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in shares of Marvell Technology by 3.6% during the 4th quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after acquiring an additional 103 shares in the last quarter. Tsfg LLC boosted its stake in shares of Marvell Technology by 7.5% during the 4th quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after acquiring an additional 111 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Marvell Technology by 48.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 112 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Marvell Technology by 1.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 7,842 shares of the semiconductor company’s stock worth $566,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MRVL. Evercore ISI boosted their price target on Marvell Technology from $98.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Oppenheimer lifted their price objective on Marvell Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on Marvell Technology from $95.00 to $120.00 and gave the stock 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 research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Marvell Technology from $90.00 to $130.00 and gave the stock an “overweight” rating in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.60.

Insider Buying and Selling at Marvell Technology

In related news, EVP Mark Casper sold 2,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $113.00, for a total transaction of $282,500.00. Following the sale, the executive vice president now owns 24,706 shares in the company, valued at $2,791,778. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.14, for a total transaction of $534,840.00. Following the sale, the executive vice president now owns 103,244 shares in the company, valued at approximately $9,203,170.16. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock valued at $4,361,430 in the last ninety days. Insiders own 0.33% of the company’s stock.

Marvell Technology Price Performance

Shares of Marvell Technology stock opened at $110.62 on Friday. The company has a fifty day moving average price of $113.95 and a 200 day moving average price of $88.97. 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.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Friday, January 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Marvell Technology’s dividend payout ratio (DPR) is -14.12%.

About Marvell Technology

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.