Marvell Technology, Inc. (NASDAQ:MRVL) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lowered its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 29.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,238 shares of the semiconductor company’s stock after selling 1,354 shares during the period. Insigneo Advisory Services LLC’s holdings in Marvell Technology were worth $358,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in Marvell Technology by 30.1% in the fourth quarter. Invesco Ltd. now owns 16,157,979 shares of the semiconductor company’s stock valued at $1,784,649,000 after acquiring an additional 3,737,705 shares during the period. Wellington Management Group LLP increased its holdings in shares of Marvell Technology by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 12,442,302 shares of the semiconductor company’s stock valued at $1,374,252,000 after purchasing an additional 3,747,982 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Marvell Technology by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 11,468,144 shares of the semiconductor company’s stock valued at $1,263,755,000 after purchasing an additional 80,005 shares during the period. Norges Bank purchased a new stake in Marvell Technology during the fourth quarter worth about $1,138,354,000. Finally, Massachusetts Financial Services Co. MA grew its position in Marvell Technology by 28.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,592,726 shares of the semiconductor company’s stock worth $838,617,000 after buying an additional 1,691,242 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Insider Buying and Selling

In related news, Director Brad W. Buss bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $69.00 per share, for a total transaction of $207,000.00. Following the acquisition, the director now owns 87,113 shares in the company, valued at $6,010,797. This represents a 3.57 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $124.40, for a total transaction of $746,400.00. Following the completion of the sale, the executive vice president now directly owns 93,931 shares of the company’s stock, valued at $11,685,016.40. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,930 shares of company stock valued at $1,999,038. Company insiders own 0.33% of the company’s stock.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $51.70 on Friday. Marvell Technology, Inc. has a 1-year low of $47.09 and a 1-year high of $127.48. The business’s 50-day simple moving average is $73.72 and its 200-day simple moving average is $91.24. 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 firm has a market capitalization of $44.78 billion, a P/E ratio of -30.41, a P/E/G ratio of 1.61 and a beta of 1.78.

Marvell Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology’s dividend payout ratio is presently -23.53%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Loop Capital raised Marvell Technology from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday, March 6th. Roth Capital set a $100.00 target price on Marvell Technology in a report on Thursday, March 6th. Stifel Nicolaus dropped their price target on Marvell Technology from $115.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Marvell Technology in a research report on Thursday, March 6th. Finally, Raymond James set a $110.00 target price on shares of Marvell Technology in a report on Thursday, March 6th. 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 a consensus target price of $116.41.

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.