Louisiana State Employees Retirement System Has $6.98 Million Stake in Marvell Technology, Inc. (NASDAQ:MRVL)

Louisiana State Employees Retirement System lessened its stake in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 63,200 shares of the semiconductor company’s stock after selling 2,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Marvell Technology were worth $6,980,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MRVL. True Wealth Design LLC raised its holdings in shares of Marvell Technology by 1,481.8% during the third quarter. True Wealth Design LLC now owns 348 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 326 shares during the period. ORG Partners LLC grew its stake in shares of Marvell Technology by 175.3% in the 4th quarter. ORG Partners LLC now owns 234 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 149 shares during the period. Kieckhefer Group LLC bought a new stake in Marvell Technology in the 4th quarter valued at about $33,000. Financial Life Planners acquired a new position in Marvell Technology during the 4th quarter worth approximately $33,000. Finally, Whittier Trust Co. boosted its holdings in Marvell Technology by 74.5% in the third quarter. Whittier Trust Co. now owns 492 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 210 shares in the last quarter. 83.51% of the stock is owned by institutional investors.

Insider Transactions at Marvell Technology

In other Marvell Technology news, CFO Willem A. Meintjes sold 1,500 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.14, for a total value of $133,710.00. Following the sale, the chief financial officer now owns 114,211 shares of the company’s stock, valued at $10,180,768.54. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of the business’s 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 transaction, the executive vice president now owns 103,244 shares in the company, valued at $9,203,170.16. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,755 shares of company stock worth $4,361,430. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

MRVL has been the subject of several recent research reports. B. Riley boosted their price objective on Marvell Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America boosted their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Melius Research raised shares of Marvell Technology to a “strong-buy” rating in a research note on Monday, January 27th. Morgan Stanley decreased their target price on shares of Marvell Technology from $120.00 to $113.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Marvell Technology from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Three equities research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.60.

Marvell Technology Stock Performance

Shares of Marvell Technology stock opened at $109.12 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.60 and a debt-to-equity ratio of 0.30. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a fifty day moving average of $114.53 and a 200-day moving average of $89.94.

Marvell Technology Dividend Announcement

The business also recently disclosed 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 currently -14.12%.

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.