Envestnet Asset Management Inc. Has $205.34 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Envestnet Asset Management Inc. lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,859,124 shares of the semiconductor company’s stock after selling 26,236 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of Marvell Technology worth $205,340,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. ORG Partners LLC increased its holdings in Marvell Technology by 175.3% in the fourth quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Marvell Technology during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Marvell Technology in the 4th quarter valued at $27,000. Kieckhefer Group LLC acquired a new position in shares of Marvell Technology during the 4th quarter valued at $33,000. Finally, Financial Life Planners bought a new position in Marvell Technology during the fourth quarter worth $33,000. 83.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MRVL. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 price target on shares of Marvell Technology in a research note on Thursday, March 6th. Barclays dropped their price target on Marvell Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Wells Fargo & Company reissued an “overweight” rating on shares of Marvell Technology in a research note on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, William Blair raised shares of Marvell Technology to a “strong-buy” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $120.44.

Insider Buying and Selling at Marvell Technology

In other Marvell Technology news, EVP Mark Casper sold 7,755 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $123.08, for a total transaction of $954,485.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Panteha Dixon sold 1,430 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $68.75, for a total value of $98,312.50. Following the sale, the chief accounting officer now owns 31,100 shares in the company, valued at approximately $2,138,125. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,185 shares of company stock valued at $3,131,018 over the last three months. 0.33% of the stock is currently owned by insiders.

Marvell Technology Price Performance

Shares of NASDAQ MRVL opened at $49.43 on Monday. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of -29.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42. The stock has a fifty day simple moving average of $87.42 and a two-hundred day simple moving average of $93.23. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 1-year low of $46.50 and a 1-year high of $127.48.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, April 11th. Marvell Technology’s dividend payout ratio (DPR) is currently -23.53%.

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.