Steph & Co. Sells 2,314 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Steph & Co. cut its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVLFree Report) by 48.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,492 shares of the semiconductor company’s stock after selling 2,314 shares during the period. Steph & Co.’s holdings in Marvell Technology were worth $275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRVL. ORG Partners LLC grew its position in shares of Marvell Technology by 175.3% during the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. Kieckhefer Group LLC bought a new position in shares of Marvell Technology during the 4th quarter valued at about $33,000. True Wealth Design LLC increased its stake in Marvell Technology by 1,481.8% in the 3rd quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 326 shares during the last quarter. Quarry LP purchased a new position in shares of Marvell Technology in the 2nd quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Marvell Technology during the second quarter worth approximately $32,000. 83.51% of the stock is owned by institutional investors.

Marvell Technology Stock Up 0.7 %

Shares of Marvell Technology stock opened at $116.00 on Thursday. The firm has a market cap of $100.37 billion, a price-to-earnings ratio of -68.23, a P/E/G ratio of 3.76 and a beta of 1.41. The stock has a 50-day simple moving average of $105.61 and a 200-day simple moving average of $83.85. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $126.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.60 and a quick ratio of 1.11.

Marvell Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders 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 0.21%. The ex-dividend date is Friday, January 10th. Marvell Technology’s payout ratio is -14.12%.

Insiders Place Their Bets

In other Marvell Technology news, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $80.77, for a total transaction of $484,620.00. Following the completion of the transaction, the executive vice president now directly owns 109,244 shares in the company, valued at $8,823,637.88. This represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael G. Strachan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $122.65, for a total transaction of $613,250.00. Following the sale, the director now directly owns 30,959 shares of the company’s stock, valued at approximately $3,797,121.35. The trade was a 13.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock valued at $2,967,670 in the last quarter. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MRVL shares. Barclays boosted their target price on Marvell Technology from $85.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on Marvell Technology from $91.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $120.00 target price (up previously from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Marvell Technology from $115.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Craig Hallum upped their price objective on shares of Marvell Technology from $132.00 to $149.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.68.

View Our Latest Stock Report on MRVL

Marvell Technology Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Marvell Technology (NASDAQ:MRVL)

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