Stanley Laman Group Ltd. Sells 14,276 Shares of Marvell Technology, Inc. (NASDAQ:MRVL)

Stanley Laman Group Ltd. lessened its position in shares of Marvell Technology, Inc. (NASDAQ:MRVL) by 24.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,027 shares of the semiconductor company’s stock after selling 14,276 shares during the period. Stanley Laman Group Ltd.’s holdings in Marvell Technology were worth $4,863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRVL. Brookstone Capital Management bought a new stake in shares of Marvell Technology during the 3rd quarter worth approximately $216,000. CWM LLC increased its position in Marvell Technology by 17.6% during the 3rd quarter. CWM LLC now owns 25,122 shares of the semiconductor company’s stock worth $1,812,000 after purchasing an additional 3,760 shares in the last quarter. Inspire Investing LLC increased its position in Marvell Technology by 5.6% during the 3rd quarter. Inspire Investing LLC now owns 3,981 shares of the semiconductor company’s stock worth $287,000 after purchasing an additional 210 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Marvell Technology by 125.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 604 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 336 shares in the last quarter. Finally, Wesbanco Bank Inc. increased its position in Marvell Technology by 131.2% during the 3rd quarter. Wesbanco Bank Inc. now owns 41,415 shares of the semiconductor company’s stock worth $2,987,000 after purchasing an additional 23,500 shares in the last quarter. Institutional investors own 83.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MRVL shares. UBS Group upped their price objective 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. Piper Sandler reiterated an “overweight” rating and set a $120.00 price objective (up from $100.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Marvell Technology from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Melius Research upgraded shares of Marvell Technology to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Bank of America upped their price target on shares of Marvell Technology from $108.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.60.

Marvell Technology Stock Performance

NASDAQ MRVL opened at $105.42 on Thursday. Marvell Technology, Inc. has a 52-week low of $53.19 and a 52-week high of $127.48. The company has a 50-day simple moving average of $114.27 and a 200 day simple moving average of $90.05. 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 was paid on Thursday, January 30th. Investors of record on Friday, January 10th were issued 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 yield of 0.23%. Marvell Technology’s dividend payout ratio (DPR) is presently -14.12%.

Insider Buying and Selling

In other news, EVP Mark Casper sold 7,755 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $123.08, for a total value of $954,485.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chris Koopmans sold 6,000 shares of Marvell Technology 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 sale, the executive vice president now owns 93,931 shares of the company’s stock, valued at approximately $11,685,016.40. The trade was a 6.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,755 shares of company stock worth $4,361,430. Insiders own 0.33% of the company’s stock.

About Marvell Technology

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.