GAM Holding AG Sells 30,817 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

GAM Holding AG trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 81.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,983 shares of the semiconductor company’s stock after selling 30,817 shares during the quarter. GAM Holding AG’s holdings in Marvell Technology were worth $771,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lodestone Wealth Management LLC raised its position in Marvell Technology by 2.0% during the fourth quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company’s stock valued at $514,000 after purchasing an additional 93 shares during the period. Valley National Advisers Inc. raised its holdings in Marvell Technology by 0.4% during the 4th quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company’s stock valued at $2,775,000 after buying an additional 96 shares during the period. Waldron Private Wealth LLC lifted its position in Marvell Technology by 3.6% in the fourth quarter. Waldron Private Wealth LLC now owns 2,964 shares of the semiconductor company’s stock worth $327,000 after buying an additional 103 shares during the last quarter. Tsfg LLC boosted its stake in Marvell Technology by 7.5% during the fourth quarter. Tsfg LLC now owns 1,593 shares of the semiconductor company’s stock worth $176,000 after buying an additional 111 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in Marvell Technology by 48.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 344 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 83.51% of the company’s stock.

Insider Transactions at Marvell Technology

In other news, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $122.65, for a total value of $613,250.00. Following the completion of the sale, the director now owns 30,959 shares of the company’s stock, valued at $3,797,121.35. This trade represents a 13.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Willem A. Meintjes sold 1,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $122.50, for a total value of $183,750.00. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 30,255 shares of company stock valued at $3,692,880 in the last 90 days. Insiders own 0.33% of the company’s stock.

Marvell Technology Trading Up 0.7 %

Shares of NASDAQ MRVL opened at $107.29 on Wednesday. The business has a fifty day moving average price of $113.93 and a 200 day moving average price of $91.10. Marvell Technology, Inc. has a 1-year low of $53.19 and a 1-year high of $127.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11. The stock has a market capitalization of $92.84 billion, a P/E ratio of -63.11, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40.

Marvell Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Friday, January 10th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, January 10th. Marvell Technology’s dividend payout ratio is currently -14.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities raised their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Needham & Company LLC upped their price target on shares of Marvell Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays upped their price target on shares of Marvell Technology from $115.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Citigroup upped their price target on shares of Marvell Technology from $91.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Evercore ISI upped their price target on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Marvell Technology has a consensus 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.