Marvell Technology, Inc. (NASDAQ:MRVL) Holdings Trimmed by Krilogy Financial LLC

Krilogy Financial LLC cut its holdings in Marvell Technology, Inc. (NASDAQ:MRVL) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,114 shares of the semiconductor company’s stock after selling 8,474 shares during the quarter. Krilogy Financial LLC’s holdings in Marvell Technology were worth $2,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MRVL. Mercer Global Advisors Inc. ADV lifted its stake in Marvell Technology by 21.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 33,540 shares of the semiconductor company’s stock valued at $2,344,000 after purchasing an additional 5,969 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Marvell Technology by 14.7% in the second quarter. Intech Investment Management LLC now owns 89,450 shares of the semiconductor company’s stock valued at $6,253,000 after buying an additional 11,441 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Marvell Technology by 2.3% during the 2nd quarter. Ieq Capital LLC now owns 55,860 shares of the semiconductor company’s stock valued at $3,905,000 after acquiring an additional 1,249 shares during the last quarter. Bridges Investment Management Inc. bought a new stake in shares of Marvell Technology during the 2nd quarter worth $255,000. Finally, ASB Consultores LLC grew its holdings in shares of Marvell Technology by 8.8% in the 2nd quarter. ASB Consultores LLC now owns 3,684 shares of the semiconductor company’s stock worth $258,000 after acquiring an additional 299 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MRVL. JPMorgan Chase & Co. increased their price target on Marvell Technology from $90.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Evercore ISI upped their price objective on shares of Marvell Technology from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. UBS Group lifted their target price on shares of Marvell Technology from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark restated a “buy” rating and issued a $135.00 price target (up previously from $115.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. Finally, Needham & Company LLC lifted their price objective on shares of Marvell Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Marvell Technology has an average rating of “Moderate Buy” and a consensus price target of $123.08.

Marvell Technology Price Performance

NASDAQ MRVL opened at $124.76 on Friday. Marvell Technology, Inc. has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The stock’s 50-day moving average is $106.70 and its two-hundred day moving average is $84.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60.

Marvell Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Friday, January 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insider Buying and Selling

In other news, CFO Willem A. Meintjes sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $118.33, for a total value of $177,495.00. Following the completion of the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $122.65, for a total transaction of $613,250.00. Following the completion of the transaction, the director now owns 30,959 shares in the company, valued at $3,797,121.35. The trade was a 13.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,755 shares of company stock worth $4,099,650. 0.33% of the stock is currently owned by insiders.

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.