Allspring Global Investments Holdings LLC Cuts Stock Position in Marvell Technology, Inc. (NASDAQ:MRVL)

Allspring Global Investments Holdings LLC trimmed its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,517,445 shares of the semiconductor company’s stock after selling 60,768 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Marvell Technology were worth $172,321,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Zweig DiMenna Associates LLC lifted its stake in Marvell Technology by 6.3% in the fourth quarter. Zweig DiMenna Associates LLC now owns 213,521 shares of the semiconductor company’s stock worth $23,583,000 after acquiring an additional 12,700 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Marvell Technology in the 4th quarter valued at $637,000. RFG Advisory LLC lifted its position in shares of Marvell Technology by 6.2% during the 4th quarter. RFG Advisory LLC now owns 42,621 shares of the semiconductor company’s stock worth $4,708,000 after purchasing an additional 2,507 shares during the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of Marvell Technology during the third quarter worth $16,435,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Marvell Technology by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after buying an additional 66,654 shares during the last quarter. 83.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Willem A. Meintjes sold 1,500 shares of Marvell Technology stock in a transaction on Monday, December 16th. The stock was sold at an average price of $122.50, for a total transaction of $183,750.00. Following the completion of the transaction, the chief financial officer now owns 112,711 shares of the company’s stock, valued at $13,807,097.50. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.14, for a total transaction of $534,840.00. Following the completion of the sale, the executive vice president now directly owns 103,244 shares in the company, valued at approximately $9,203,170.16. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,755 shares of company stock worth $4,361,430 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Marvell Technology Price Performance

MRVL opened at $109.12 on Wednesday. The business has a 50 day simple moving average of $114.53 and a 200-day simple moving average of $89.94. 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, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48.

Marvell Technology Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently issued reports on MRVL shares. B. Riley upped their price objective on Marvell Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Melius Research raised Marvell Technology to a “strong-buy” rating in a report on Monday, January 27th. Stifel Nicolaus raised their price objective on shares of Marvell Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Rosenblatt Securities increased their target price on shares of Marvell Technology from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.